Sandbox VR raises $11 million from elite Silicon Valley and Hollywood investors
Sandbox VR has raised an additional $11 million in funding from notable Silicon Valley and Hollywood icons, such as Andreessen Horowitz, Katy Perry, and Justin Timberlake.
The new investment brings their reported total to $83 million in 2019, including a $68 million round from earlier this year. The investment takes place amid a slowdown in VR funding, and it suggests that Sandbox has something special in its location-based VR technology.
Sandbox VR aims to create the something akin to Star Trek’s Holodeck, a room that can become any virtual environment and feel like it’s real, according to founder Steve Zhao.
The company is in the process of a rollout across the U.S. with a location recently opened in Los Angeles. It is coming soon to New York, Austin, San Diego, and Chicago with a total of 16 total locations planned by the end of 2020. The company has invested in retail locations, integrated technology together to create a unique experience, and built a game studio.
See the full story here: https://venturebeat.com/2019/10/22/sandbox-vr-raises-11-million-from-silicon-valley-and-hollywood-elite-from-andreessen-horowitz-to-justin-timberlake/