London’s Unit1 raises £20M to take avatar concerts on tour

Unit1 Studio has raised £20M to stage concerts performed by digital recreations of musicians, in an oversubscribed round led by Balderton Capital. The company was founded in February 2025 and is based in Tileyard, north London.

The money comes as a mix of equity and production financing, with Mercuri, Gilston Music, Paul McGuinness, who managed U2 for three decades, and Saul Klein also taking part.

The London company does not create holograms. Instead, its performers are synthesized 3D models, shown with visual effects and AI-assisted CGI on large LED screens, and combined with live show lighting, sound, and staging.

“Nothing is ‘real’,” chief executive Barney Wragg has said of the approach.

The company’s pitch focuses on the economics of ABBA Voyage, which required a custom-built arena in east London that reportedly cost £140 million and has remained there since.

Unit1 says its shows are portable, fit venues with fewer than...

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