MelodyVR Ltd. announced that it has received £212,500 in funding from new investor, Armstrong Ventures Plc on January 14, 2016. The company issued secured convertible loan notes in the transaction. The notes will bear interest at a rate of 10% per annum and are repayable on or before March 31, 2017.

The notes are convertible into common shares on March 31, 2017 or earlier upon the sale or listing of the company or upon the raising of equity finance by the company.