Total amount raised
$156 Millions
Latest funding date
11/01/2021
Location
Title
Sandbox VR has successfully raised $156 million over five funding rounds, with its latest round being a Series B in November 2021.
Keep reading to explore the intricacies of Sandbox VR's fundraising journey and the investors backing this innovative platform.
What Is Sandbox VR?
Sandbox VR, founded by Steven Zhao, is headquartered in San Francisco, California, with additional offices in Hong Kong, Los Angeles, and Singapore. The company specializes in providing the most advanced virtual reality experiences, using proprietary technology for full-body motion capture and high-quality haptics.
With a mission to bring people closer together through immersive experiences, Sandbox VR offers six exclusive virtual reality experiences created by their in-house development studio. These experiences range from fighting zombie hordes to futuristic combat arenas, designed for groups of up to six people.
Since its inception, Sandbox VR has grown to employ between 201-500 people, continually expanding its reach and enhancing its offerings to provide unparalleled social VR experiences.
How Much Funding Has Sandbox VR Raised?
- Seed Round
- Amount Raised: Not disclosed
- Date: November 22, 2016
- Motivation Behind the Round: Initial funding to kickstart the company.
- Seed Round
- Amount Raised: $3 million
- Date: December 14, 2017
- Lead Investors: Alibaba Entrepreneurs Fund
- Motivation Behind the Round: Likely to further develop their VR technology and expand initial operations.
- Series A Round
- Amount Raised: $68 million
- Date: January 29, 2019
- Lead Investors: Andreessen Horowitz
- Motivation Behind the Round: Significant scaling of operations, opening new locations, and enhancing VR experiences.
- Series A Round
- Amount Raised: $11 million
- Date: October 22, 2019
- Lead Investors: Andreessen Horowitz, David Sacks
- Motivation Behind the Round: Additional funding to continue scaling and possibly to address challenges posed by the market and technology.
- Series B Round
- Amount Raised: $37 million
- Date: November 10, 2021
- Lead Investors: Andreessen Horowitz, Alibaba, Craft
- Motivation Behind the Round: Expand operations globally, open new retail locations, scale internal studio, develop a software development kit (SDK) for third-party development, and innovate wireless technology to enhance the VR experience.
Total Amount Raised: $119 million
Current Valuation: Not publicly disclosed
Key Investors
- Andreessen Horowitz
- Details: A prominent venture capital firm based in Silicon Valley, known for investing in technology companies. Andrew Chen, a general partner at Andreessen Horowitz, is also a board member of Sandbox VR.
- Investment Focus Areas: Technology, software, internet companies
- Notable Investments: Facebook, Airbnb, Slack
- Alibaba Entrepreneurs Fund
- Details: A fund established by Alibaba Group to support entrepreneurs and startups. It aims to help young entrepreneurs realize their dreams and create a positive impact on society.
- Investment Focus Areas: Startups, technology, e-commerce
- Notable Investments: Lazada, Ant Financial, Ele.me
- Craft Ventures
- Details: A venture capital firm co-founded by David Sacks, focusing on early-stage technology companies. The firm aims to support founders in building enduring companies.
- Investment Focus Areas: Technology startups, software, internet services
- Notable Investments: Slack, Bird
- Justin Timberlake
- Details: A famous singer, actor, and producer known for his successful music career and ventures in entertainment. He has also invested in various tech startups.
- Investment Focus Areas: Entertainment, technology
- Notable Investments: Myspace, Bai Brands
- Katy Perry
- Details: A well-known pop singer and entertainer with a keen interest in investing in innovative companies. She has diversified her portfolio with investments in various sectors.
- Investment Focus Areas: Entertainment, media, technology
- Notable Investments: Popchips, Bragg Live Food Products
What's Next for Sandbox VR?
Sandbox VR is poised to capitalize on the burgeoning global location-based virtual reality market, projected to reach $26.3 billion by 2028. With plans to expand to new locations like Paramus, London, and Toronto, the company aims to make immersive VR experiences more accessible. Additionally, the development of a software development kit (SDK) for third-party developers and innovations in wireless VR technology present significant growth opportunities.
Future fundraising seems promising, given the company's ambitious expansion and technological advancements. Investors like Andreessen Horowitz and Alibaba have shown strong interest, suggesting potential for additional funding rounds. However, Sandbox VR will need to navigate challenges such as recovering from the COVID-19 pandemic, competing with other VR companies, and overcoming technological hurdles in developing new hardware and software solutions.
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