Total amount raised
$156 Millions
Latest funding date
11/1/2021
Location
Sandbox VR has successfully raised significant funding over multiple rounds, with notable participation from investors like Alibaba Group and Shrug Capital. The company offers a premium, fully-immersive virtual reality experience designed to captivate and entertain.
Keep reading to explore the intricacies of Sandbox VR's fundraising journey and the investors backing this innovative platform.
What Is Sandbox VR?
Founded in 2016 by Steve Zhao, Sandbox VR is a virtual reality startup based in San Francisco, California. The company specializes in offering premium, fully-immersive VR experiences that combine real-time motion capture with advanced VR technology.
Sandbox VR provides group-based virtual reality experiences where participants can interact in a virtual environment using motion capture technology and haptic suits. Their offerings include unique experiences like "Star Trek: Discovery Away Mission" and "Seekers of the Shard: Dragonfire."
With a workforce ranging from 501 to 1000 employees, Sandbox VR has established a presence in both the Bay Area and Hong Kong, making it a notable player in the VR industry.
How Much Funding Has Sandbox VR Raised?
- Seed Round
- Amount Raised: $3M
- Date: Dec 14, 2017
- Lead Investors: Alibaba Entrepreneurs Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop initial VR experiences and establish a market presence.
- Series A
- Amount Raised: $12M
- Date: Jan 29, 2019
- Lead Investors: Andreessen Horowitz
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the business and expand their physical locations.
- Series A (Additional)
- Amount Raised: $11M
- Date: Oct 22, 2019
- Lead Investors: Andreessen Horowitz, David O. Sacks
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's expansive rollout across the U.S.
- Series B
- Amount Raised: $37M
- Date: Nov 10, 2021
- Lead Investors: Andreessen Horowitz
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate global franchise program and further develop VR technology.
Sandbox VR has raised a total of $63M. The current valuation is not publicly disclosed.
Key Investors
- Andreessen Horowitz
- Details: Andreessen Horowitz is a prominent venture capital firm based in Silicon Valley. It is known for its investments in technology companies.
- Investment Focus Areas: Technology, software, internet companies.
- Notable Investments: Facebook, Airbnb, Slack, Lyft.
- David O. Sacks
- Details: David O. Sacks is a well-known entrepreneur and investor, co-founder of Craft Ventures. He has a strong background in technology startups.
- Investment Focus Areas: Technology startups, software, internet sectors.
- Notable Investments: PayPal, Yammer, Zenefits.
- Alibaba Entrepreneurs Fund
- Details: Alibaba Entrepreneurs Fund is an initiative by Alibaba Group to support entrepreneurs and startups. It aims to foster innovation and entrepreneurship.
- Investment Focus Areas: E-commerce, technology, logistics.
- Notable Investments: Not publicly disclosed.
- Andreessen Horowitz Cultural Leadership Fund
- Details: This fund is managed by Andreessen Horowitz and focuses on cultural and social impact investments. It aims to connect cultural leaders with technology companies.
- Investment Focus Areas: Technology, culture, social impact.
- Notable Investments: Lime, Lyft, Airbnb.
- Dreamers Fund
- Details: Dreamers Fund is a venture capital fund co-founded by Japanese soccer player Keisuke Honda and actor Will Smith. It focuses on innovative startups.
- Investment Focus Areas: Technology, innovation, various sectors.
- Notable Investments: BioBeats, Julep.
What's Next for Sandbox VR?
Sandbox VR is poised for significant growth as it expands its immersive VR experiences across the U.S. With plans to open 16 locations by the end of 2020, the company is leveraging its advanced full-body motion capture technology to create unique social experiences. High-profile investors like Justin Timberlake and Katy Perry are backing this expansion, highlighting the broad appeal and potential of Sandbox VR's offerings.
Future fundraising opportunities seem promising, given the substantial financial backing and market interest. However, the company faces challenges such as high operational costs and competition from consumer VR headsets. Ensuring consistent, high-quality experiences across all locations will be crucial for maintaining customer satisfaction and sustaining growth.
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