LOS ANGELES, Dec. 13, 2017 /PRNewswire/ -- Dreamscape Immersive, the location-based VR startup backed by some of Hollywood's biggest players, today announced the close of a $30M Series B financing round.
Since announcing the series led by AMC Entertainment (NYSE: AMC), which will also open and operate up to six Dreamscape Immersive VR centers in North America and the U.K., the company has received an incredible amount of interest from additional parties. To make room for these strategic investments, Dreamscape Immersive has increased its Series B financing round to $30M 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," said Aaron Grosky, COO of Dreamscape Immersive. "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."
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.
Specifically, in addition to Nickelodeon's investment, Nickelodeon and Dreamscape Immersive have committed to produce an experience using the brand's IP for kids and families. Majid Al Futtaim, the 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. Other investors such as VRSense Solutions Limited, a wholly owned subsidiary of PC Partner Group Limited and maker of PC backpacks, will help the company advance hardware development, and investors such as 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's flagship location is slated to open to the public at Westfield Century City Mall in Los Angeles, California in 2018. In addition to this location, the company has formed a strategic partnership with AMC Entertainment, with a commitment from AMC to open and operate up to six Dreamscape Immersive VR centers within AMC theatres and at standalone locations in North America and the U.K.
The company 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. It has also attracted an A-list group of advisors including Yves Behar, renowned industrial designer, as Brand and Design Advisor; Hans Zimmer, Music Advisor; Dan Fellman, Past President, Domestic Distribution, Warner Bros. Pictures, as Distribution Advisor; Rick Carter, Academy Award winning production designer, as Production Advisor; Tom Staggs, former COO of the Walt Disney Company, as Corporate Strategy Advisor; and Gore Verbinski, Academy Award winning filmmaker, as Creative Advisor.
About Dreamscape Immersive
Dreamscape Immersive is a location-based VR entertainment company that was founded in January 2017. Led by co-chairmen Walter Parkes, Kevin Wall, CEO Bruce Vaughn and COO Aaron Grosky, with technology created by Swiss research institute Artanim, Dreamscape offers untethered VR experiences with body-mapping technology that allows participants to enter into, explore, and interact within cinematic worlds in a way they never dreamed possible. The Dreamscape Immersive team is made up of a dynamic group of cinematic storytellers, music trailblazers, theme park attractions-experts, gaming executives, technologists and medical researchers, who all share one thing in common: a collective commitment to bringing an entirely new entertainment experience to a mass audience. Dreamscape Immersive is headquartered in Los Angeles, California.
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SOURCE Dreamscape Immersive