Sandbox VR builds location-based, full-body virtual reality venues and an in-house AAA gaming studio that creates immersive multiplayer experiences. Its platform combines physical holodecks and proprietary VR technology to deliver fully immersive adventures, including the newly announced Seekers of the Shard: Dragonfire directed by Michael Hampden and created by industry veterans who worked on titles like Assassin's Creed, Far Cry 6, Cyberpunk 2077, The Witcher franchise and Battlefield 2142. Dragonfire introduces branching storylines, melee combat, magic, unlockable items and other features designed to increase replayability, and will roll out globally starting June 9. The company also plans a Sandbox VR x Squid Game experience slated to open late 2023. Sandbox VR now operates in over 35 global locations, launched a dozen locations in the past twelve months, occupies venues of 5,000+ sq ft with at least four holodecks each, and sells nearly 100k tickets every month, with over 30,000 five-star guest reviews. The company is headquartered in San Francisco, has an office in Hong Kong, and said its latest round has raised over $37 million from investors including Andreessen Horowitz, Alibaba Entrepreneurs Fund, Gobi Partners and Craft. Sandbox VR operates location-based VR venues that combine head-mounted displays, backpack computers, motion-capture sensors and haptic vests to create immersive, social game experiences. The company develops its own games and technology (it currently offers five titles) rather than relying on licensed content. After severe disruption during the COVID-19 pandemic—including a near-complete staff reduction and a bankruptcy filing—Sandbox VR says it has rebounded, with revenue up 20x since the start of the year after reopening global locations in April. The company currently runs 12 retail locations across the U.S., Canada and Asia and employed 35 people as of October. With the new funding it plans to open 10 additional retail sites (including Paramus, London and Toronto in 2022), add two corporate and two franchise locations, scale its internal studio and build an SDK for third-party development. Longer-term product plans include developing wireless backpack technology to remove current hardware burdens and an ambition to enter the metaverse in roughly 3–5 years. Sandbox VR runs physical, location-based virtual-reality venues—next-generation arcades where groups play multiplayer VR games using relatively expensive hardware. The company builds its own content and technology while also operating retail locations, a combination the team describes as being “three startups in one.” Sandbox faces content and cost challenges: it needs an exclusive content ecosystem, has a $48 ticket for a 30-minute experience, and must compete with cheaper consumer headsets like the Oculus Quest. Sandbox has partnered with CBS Interactive Studios to create a Star Trek title as part of its content strategy. The company plans to open 16 locations by the end of 2020 and is trying to use celebrity investors to boost brand perception. Financially, Sandbox has now raised $82 million in total capital. Sandbox VR builds location-based virtual-reality experiences that place teams in modest-sized rooms outfitted with headsets, PC backpacks, tracked toy rifles, motion capture and haptic vests. The Hong Kong–founded company operates seven locations across Asia and North America and positions its product as a premium, multi-social entertainment format. Management and investors emphasize the user bond and physical sociality of its experiences versus in-home VR. Backers and the company argue the format is scalable — rooms can be installed in malls or boutique retail sites and scaled like movie-theater screens. The startup is raising capital amid a broader market cool-down for VR even as investors pay increasing attention to adjacent AR opportunities.

Total raised

$153M

Funding rounds

4

Latest round

Equity

Latest activity

May 2023