Monday, January 16, 2017

SPACES Gets $6.5M For Virtual Reality Theme Park Efforts

Playa Vista-based SPACES, a developer of virtual reality technology aimed at the theme park industry, announced last week that it has raised $6.5M in additional seed funding. The funding was led by Chinese theme park operator Songcheng Performance Development, and also included Comcast Ventures, along with Boost VC, Colopl VR fund, GREE Inc., Kai Huang, The Venture Reality Fund, Youku Global Media Fund, and CRCM VC. The company said the new funding will go towards buildling VR-enabled theme park attractions. SPACES is led by CEO and co-founder Shiraz Akmal, and was co-founded by CTo Brad Herman. As part of the funding, the company said it has named Fazal Merchant (former CFO of DreamWorks Animation), Michael Yang (Comcast Ventures), and Ethan Wang (Songcheng Technology) to its board.

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