Dreamscape Immersive, the location-based VR startup backed by some of Hollywood’s biggest players, has closed a USD 30 million Series B financing round.
Since announcing the series led by AMC Entertainment, which will also open and operate up to six Dreamscape Immersive VR centers in North America and the U.K., the company received interests from additional parties. To make room for these strategic investments, Dreamscape Immersive has increased its Series B financing round to USD 30 million with new financial commitments from Nickelodeon, Majid Al Futtaim, VRSense Solutions Limited, and Image Nation Abu Dhabi. Returning Series A investors including, Bold Capital Partners, 21st Century Fox, and Warner Bros. also participated in the round.
“We started Dreamscape Immersive with the fundamental belief that strategic partners will be key to our success. This group of existing and new investors, each of whom are leaders in their own respective categories, not only share in our vision but will help Dreamscape Immersive execute and grow. We couldn’t be more excited for what we’re going to be able to accomplish together,” said Aaron Grosky, COO, Dreamscape Immersive.
Funding from each investor will be used to help Dreamscape Immersive scale operations, build a marquee slate of content and further its global expansion into a slew of new territories.
Majid Al Futtaim, a leading lifestyle conglomerate across the Middle East, Africa and Asia, has made a strategic equity investment in Dreamscape Immersive, with the intent to take the VR offering global. Image Nation Abu Dhabi, one of the leading media companies in the Arab-speaking world, will help further develop a robust slate of immersive content.
Dreamscape Immersive is spearheaded by co-chairmen Walter Parkes and Kevin Wall, CEO and former Disney Imagineering chief Bruce Vaughn, COO Aaron Grosky, and utilizes unique body-mapping technologies developed by the Swiss research foundation, Artanim.