Location-Based Entertainment Startup Sandbox VR Secures $68 Million Investment

Virtual reality (VR) location-based entertainment (LBE) can be a tricky business. Companies like The VOID and Zero Latency have seen success further expanding their global presence, while others such as IMAX VR have had to shutter operations. Sandbox VR, a Hong Kong-based provider also looks to be on the up and up, recently announcing a successful investment round securing $68 million USD.The series A funding round was led by Andreessen Horowitz reports Business Insider, with Mike Maples from Floodgate, Stanford University, TriplePoint Capital, CRCM, and Alibaba also participating.Founded in 2016 by CEO Steve Zhao, Sandbox VR developed its own hardware and software solutions to create an out-of-home VR experience that can be fitted in shopping centres and other locations. “When we first opened in Hong Kong in 2017, when we opened the location, for the next 60 days we were sold out from morning until night,” Zhao said.Since then Sandbox VR has managed to expand its presence to more locations in Asia as well as North America including Bangkok, Singapore, Los Angeles and San Francisco. With the new investment, the company plans further expansion, not only adding new locations but also developing new in-house experiences you can’t get anywhere else.