Tuesday, February 14, 2017

Dreamscape Immersive Raises Series A Funding For VR Entertainment Centers

Los Angeles-based Dreamscape Immersive, a developer of immersive, virtual reality entertainment experiences, said on yesterday afternoon that it has raised a Series A financing round. Size of the funding round was not announced, however, a regulatory filing indicates around $11.36M was raised in the round. The funding was led by Bold Capital Partners, the investment firm run by Peter Diamandis, and also included Warner Bros., 21st Century Fox, Metro-Goldwyn-Mayer (MGM), IMAX Corporation, Westfield Corporation, and Steven Spielberg. Dreamscape Immersive said it is planning to open up a flagship "VR Multiplex" at the Westfield Century City Mall in fall of this year. The company's founders and co-chairmen are Walter Parkes, former studio head of Dreamworks, and Kevin Wall, founder of Control Room; the company said it has named Bruce Vaughn, who has been at Disney Imagineering for 25 years, as its CEO. More information »