When it comes to furthering the possibility of VR, SPACES Inc just got a little bit closer. The virtual reality and mixed reality company, launched in 2016 by VR pioneers from DreamWorks Animation, just raised an additional $6.5 million in funding, led by China-based Songcheng Performances Development Co. Ltd., with additional investments from Comcast Ventures, and other leading VC groups including Boost VC, The Venture Reality Fund, Youku Global Media Fund and CRCM VC, all of who were initial investors in SPACES.
SPACES co-founder and CEO Shiraz Akmal believes that this new investment, combined with a previously raised $30 million, will accelerate SPACES’ vision of building a new era of VR-enabled parks and attractions, “through our SPACES Parks & Attractions division, we’re fundamentally reimagining the theme park experience with stunning advances in VR technology,” he explained in an interview. “Together with our Songcheng joint venture, this new capital expands our efforts to create entirely new kinds of VR-enabled destinations.”
And according to a press release, SPACES has chosen former DreamWorks Animation CFO Fazal Merchant; Comcast Ventures’ managing director Michael Yang; and Ethan Wang, general manager of Songcheng Technology, to serve on the newly established board of directors.
“SPACES is poised for unprecedented opportunity in the global theme-park market,” Yang said in the release. “I look forward to helping the team navigate the quickly growing VR entertainment space as a board member and investor.”
Based in Los Angeles, SPACES boasts one of the most accomplished teams in the VR industry, with artists, designers and programmers from film, television, video games, visual effects, theme parks and animation.