Sandbox VR – is a location-based virtual reality startup, that recreates full immersion experience in virtual reality with motion-capture equipment and a VR headset. The company has closed a $68 million investment round earlier this year and has raised an additional $11 million from Hollywood stars and Silicon Valley investors now.
This new round was led by David Sacks of Craft Ventures and the Andreessen Horowitz Cultural Leadership Fund with the participation of Dreamers Fund, Jonda Keisuke, Kevin Durant, Rich Kleiman of Thirty Five Ventures, Michael Ovitz, Orlando Bloom, Will Smith, Justin Timberlake, and Katy Perry.
“We’re incredibly honored to be able to work with some of the most talented and influential artists, athletes, and actors in the world.”
Sandbox VR founder and CEO , Steve Zhao
Sandbox VR currently has about 100 employees who maintan 8 VR centers in cities including Los Angeles, Hong Kong, Vancouver and, Singapore, and they are going to broaden the workspace in next year. Despite big technology market competition and a slowdown in VR funding, a company keeps attracting finance, that stands it out from others and indicates it’s creative approach:
“Our philosophy is that VR is a social experience and physical experience. For example, we make you brush stuff off your body and off your friends’ bodies. You’re using touch, and all your senses.”
Steve Zhao
The average cost of a Sandbox VR experience is about $35 to $40 per person. That means technology is ready to “take off as a mass-market phenomenon in malls, where it can be optimized for a social experience” – as states David Sacks.
The next project of the company is “A Star Trek: Discovery Away Mission”, created with CBS Interactive. The launch is planned for this Autumn in Hong Kong and San Francisco Bay, with worldwide availability to follow by early 2020.
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