5 years after its Oculus investment, A16Z leads a new VR startup’s $68M Series A

TechCrunch | 1/28/2019 | Staff
markedmarked (Posted by) Level 4
Click For Photo: https://techcrunch.com/wp-content/uploads/2019/01/Screen-Shot-2019-01-28-at-8.07.26-PM.png?w=468

Sandbox’s magic happens in a largely empty room. The gear mounted onto the walls (VR headsets, PC backpacks, and tracked toy assault rifles) gives more than a little indication that there’s more afoot, but nothing really clicks until your team is strapped in and the headsets shove you into a fast-paced wave shooter.

The startup, which has seven locations in Asia and North America, has brought plenty of people through the sweat-inducing experience including quite a few high-profile investors who are ready to buy into Sandbox’s vision for VR.

Sandbox - VR - Series - A - Round

Sandbox VR just closed a $68 million Series A round led by Andreessen Horowitz with further participation from Floodgate, Stanford University, TriplePoint Capital, CRCM and Alibaba, as reported by Business Insider.

Andreessen Horowitz’s investment in Sandbox VR comes more that 5 years after the firm made a big bet on Oculus VR. At the time, Oculus helped stroke enthusiasm behind the idea that regular consumers would soon be strapping into their own VR gear. While the company has seen some major progress towards that vision beneath Facebook, it still hasn’t entirely kept pace with the white hot expectations that some investors had set towards that vision.

Andreessen - Horowitz - Andrew - Chen - Plenty

In 2019, Andreessen Horowitz’s Andrew Chen still sees plenty of opportunity in the home, but is excited about what can be enabled when VR can break free of some of its constraints.

“I think we’ve run the experiment that in-home needs to actually have a kind of different form factor, you want the hardware to be more like $200 or the same as a console,” Chen tells TechCrunch. “I think we’re going to see location-based VR split off...
(Excerpt) Read more at: TechCrunch
Wake Up To Breaking News!
Sign In or Register to comment.

Welcome to Long Room!

Where The World Finds Its News!