Hollywood players back VR studio

A US-based virtual reality (VR) start-up has received investment from companies including Nickelodeon, 21st Century Fox and Warner Bros.

Dreamscape Immersive, which was set up at the beginning of this year, has closed a US$30m funding round with the help of the US companies.

Other investors include Majid Al Futtaim, VRSense Solutions and Image Nation Abu Dhabi.

The investment comes as AMC Entertainment, one of the lead investors in the company, gears up to open and operate as many as six Dreamscape Immersive VR centres in North America and the UK.

LA-based Dreamscape Immersive is led by co-chairmen Walter Parkes, Kevin Wall, CEO Bruce Vaughn and chief operating officer Aaron Grosky.

Funding from each investor will be used to help Dreamscape Immersive scale operations, build a marquee slate of content and further its global expansion into various new territories, the company said.

In addition to Nickelodeon’s investment, Nickelodeon and Dreamscape Immersive have committed to produce an experience using the brand’s IP for kids and families.