Company’s technology lets multiple people communicate in virtual reality environment.Steven Spielberg and partner companies have raised $11 million in a new venture Dreamscape Immersive that aims to start its first virtual reality storefront in Los Angeles this year with plans for a wider rollout.
Dreamscape Immersive wants to open first VR Multiplex in Westfield Century City Mall, and the facility will use untethered VR headsets to allow customers to move freely through space and play with virtual and real objects and as well as with each other. The company proposes to launch more locations next year.
Dreamscape has received $11 million in an investment round led by Bold Capital, with participation from Warner Bros. 21st Century Fox, IMAX Corporation, Metro-Goldwyn-Mayer, Steven Spielberg and Westfield Corporation. Advisors include legendary film music composer Hans Zimmer and star designer Yves Behar.
Dreamscape Immersive will offer real VR adventures and ones tied to major movies franchises, said Walter Parkes, co-chairman of the company. The VR technology, revealed by Swiss firm Artanim, enables multiple people to interact in an original virtual reality surrounding. It uses 16 sensors and cameras on as many as six users’ feet and hands, doing it more advanced than the basic systems currently proposed by companies such as Sony Corp. and Facebook Inc.’s FB, Oculus.
The Dreamscape VR lives are expected to last about 10 minutes each and cost a little over $1 million to create. Tickets cost will be from $15 to $20. Finally, Dreamscape expects to move into adjacent businesses where it could use virtual reality such as military and medical preparation, tourism and communications.