Sandbox VR has raised $11 million in funding from notable Silicon Valley and Hollywood stars.
The new investment brings the company’s reported total to $83m in 2019, including the Series A round earlier this year.
Sandbox VR uses full body motion capture and VR technologies to allow players to ‘become anyone and go anywhere together with their friends’.
Led by David Sacks of Craft Ventures and the Andreessen Horowitz Cultural Leadership Fund, additional investors include: Dreamers Fund; Honda Keisukel; Justin Timberlake; Katy Perry; Kevin Durant and Rich Kleiman of Thirty Five Ventures; Michael Ovitz; Orlando Bloom and Will Smith.
The company is in the process of an expansive rollout across the US with a location recently opened in Los Angeles, and is coming soon to New York, Austin, San Diego, and Chicago with a total of 16 total locations planned by the end of 2020.
Steve Zhao, Sandbox VR
“We’re incredibly honored to be able to work with some of the most talented and influential artists, athletes, and actors in the world,” said Steve Zhao, Founder and CEO of Sandbox VR.
“Their support is a vote of confidence that our platform will one day become the new medium for the future of sports, music, and storytelling.”
“We believe that VR is finally ready to take off as a mass-market phenomenon in malls, where it can be optimized for a social experience.”
David Sacks, Craft Ventures
David Sacks, co-founder and general partner at Craft Ventures, added: “We believe that VR is finally ready to take off as a mass-market phenomenon in malls, where it can be optimized for a social experience.
“We chose the Sandbox team because of their background in game design; their VR experiences have a level of interactivity — with both the VR world and other players — that we couldn’t find elsewhere. We believe that Sandbox VR is poised to become the first VR experience for millions of consumers around the world.”
“We can’t wait to bring this new transformative medium to neighborhoods around the world in the coming year.”
Siqi Chen, Sandbox VR
Siqi Chen, President and Chief Product Officer of Sandbox VR, said: “The excitement for Sandbox VR from entertainment and sports icons I grew up idolizing reminds of what I felt when I first experienced what Steve and his team built in Hong Kong two years ago.
“We can’t wait to bring this new transformative medium to neighborhoods around the world in the coming year.”Music Business Worldwide