Sandbox VR raises millions more in celebrity party round

Sandbox VR, a location-based virtual reality startup that capped off a huge $68 million Series A led by Andreessen Horowitz at the beginning of the year, is bringing on some new investors in a $11 million “strategic” round; let’s call this one the Series A-listers round.

Sandbox VR operates physical spaces, generally in retail locations, in which users can play multiplayer virtual reality games with friends.

It’s a next-generation arcade of sorts that’s relying on expensive new technology to attract customers, but that formula hasn’t been a slam dunk for plenty of other VR startups, and it has forced the leadership to get creative.

Whatever Sandbox does, the team is going to have to walk in the same footsteps of many VR companies before it, all while improving perceptions of the technology, something the company’s executives hope their new celebrity investor friends can help with.

Full Article