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VR Dreamscape Receives 20 Million U.S. Dollar Financing
In 2017, movie studios and cinemas faced a tough challenge in attracting audiences. The box office performance was underwhelming, largely due to the release of several poorly received Hollywood films during the summer, which left many viewers disheartened. In response, some companies are exploring innovative ways to draw in new customers, with one promising solution being the integration of virtual reality (VR) experiences into traditional movie theaters.
Today, Dreamscape Immersive announced the successful completion of a $20 million funding round led by AMC, part of Wanda Group. This investment included participation from major film studios as well as notable figures like Steven Spielberg, highlighting the growing interest in immersive entertainment technologies.
Founded in January 2017, Dreamscape Immersive has developed advanced VR technology that allows users to digitally map their entire body, enabling them to step into and interact with virtual environments in a more natural and engaging way—far beyond what current home VR systems offer. Their system supports up to six people simultaneously, allowing for social interaction without the need for cumbersome cables or PC connections.
With the new funding, the company plans to open six VR centers across the U.S. and the U.K., including locations within AMC theaters and other independent venues, over the next 18 months. Their flagship center will be located at Westfield Century City Mall in Los Angeles, with operations set to begin in the first quarter of 2018. This means that consumers won’t have to wait too long to experience this cutting-edge technology firsthand.
Dreamscape is also in talks with major studios to secure licensing rights for VR versions of popular movies, which would then be showcased in their VR centers. The latest round of investors includes Warner Bros., 21st Century Fox, MGM, as well as theater chains like IMAX and Westfield, signaling strong industry support for this emerging form of entertainment.