Dreamscape Immersive, the location-based VR startup led by co-chairmen Walter Parkes and Kevin Wall, CEO and former Disney Imagineering chief Bruce Vaughn, COO Aaron Grosky, just closed a $30M Series B financing round. Returning Series A investors — Bold Capital Partners, 21st Century Fox, and Warner Brothers — also participated in the round.
Since announcing the series led by AMC Entertainment, the company has gotten interest in other strategic investments so it 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.
Funding from these investors will be used to help Dreamscape’s expansion with both content and locations.
In addition to Nickelodeon’s investment, Nickelodeon and Dreamscape will produce an experience using the brand’s IP for kids and families. Majid Al Futtaim, a 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, are interested in advance hardware development. Image Nation Dhabi, a media company in the Arab-speaking world, will help further develop content.
“We started Dreamscape Immersive with the fundamental belief that strategic partners will be key to our success,” said Grosky. “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.”
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 commitments from AMC Entertainment to finance up to six Dreamscape Immersive VR centers within AMC theatres and standalone locations in North America and the U.K.
Its advisors include industrial designer Yves Behar, composer Hans Zimmer, former Warner Bros. exec Dan Fellman, production designer Rick Carter, former Disney COO Tom Staggs, and filmmaker Gore Verbinski.