US-based experiential entertainment provider Two Bit Circus has completed a $15m series B round featuring Intel Capital and Dentsu Ventures, respective subsidiaries of chipmaker Intel and marketing firm Dentsu.
Jazz Venture Partners led the round, which included fellow investment firm Georgian Pine Investments, venture capital firm Foundry Group and Techstars Ventures, which acts as the VC arm of accelerator Techstars.
Founded in 2012, Two Bit Circus builds immersive live entertainment installations that form part of larger events or conferences. The series B capital will support the creation of the first of a series of micro-amusement parks, in Los Angeles.
The park will combine elements such as virtual and mixed reality, social play and group games, molecular gastronomy, mixology, lasers, fire and robots into a single venue over 30,000 square feet in size.
Brent Bushnell, co-founder and CEO of Two Bit Circus, said: “Out-of-home entertainment hasn’t changed much since laser tag and mini-golf. The latest tech has just blown the doors open on a whole new world; changed what it means to play, and play together socially.”
“People stress about tech pushing people apart, but we love watching it bring them together.”
Intel Capital also participated in the company’s last round, a $6.5m series A that closed in late 2015. Techstars Ventures led the series A round, which also featured Foundry Group.