MONEY
Unit1 Studio raises 23.3 million euros by attacking the cost of moving a show
Unit1 Studio, the London-based avatar concert producer led by founder and chief executive Barney Wragg, has raised 23.3 million euros, or 20 million pounds, combining an oversubscribed equity round led by Balderton Capital with additional production financing. Existing backers Mercuri, Gilston Music and Paul McGuinness, long-time manager of U2, also took part. The company moved its KT Tunstall demo-concert to a permanent studio at Tileyard London in four days.
The pitch is not a bigger audience but a smaller outflow. ABBA Voyage proved demand, yet development and relocation costs locked the format into a single venue. Unit1 Studio argues productions can now run in multiple venues at once and recoup development costs within twelve months. Daniel Waterhouse, General Partner at Balderton Capital, framed it as solving a structural problem everyone knew existed.
Source: EU-Startups · September 21, 2026