US-based virtual reality (VR) technology developer Dreamscape Immersive completed a $30m series B round on Wednesday led by cinema operator AMC Entertainment that included entertainment producers 21st Century Fox and Warner Bros.
Nickelodeon, a children’s TV entertainment branch of media group Viacom, also took part in the round, as did leisure and retail centre operator Majid Al Futtaim, VR consultancy VRSense Solutions, media and entertainment producer Image Nation Abu Dhabi and Bold Capital Partners.
Dreamscape is building a VR-based system that will use body-mapping technology to give customers an immersive cinematic experience, and has formed commercial or strategic agreements with Nickelodeon, Majid Al Futtaim, VRSense and Image Nation in connection with the round.
AMC invested $10m as part of the round, according to a report in September this year, and had already agreed a partnership that will involve the opening of up to six Dreamscape Immersive centres in AMC cinemas in the US and UK.
Aaron Grosky, chief operating officer of Dreamscape Immersive, said: “We started Dreamscape Immersive with the fundamental belief that strategic partners will be key to our success.
“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 could not be more excited for what we’re going to be able to accomplish together.”
Bold Capital Partners led Dreamscape’s $11m series A round in February this year, the month after it was founded, investing together with Warner Bros, 21st Century Fox, entertainment group MGM, cinema chain Imax, retail property owner Westfield Corporation and angel investor Steven Spielberg.