Electronic Theatre has today announced the closing of an £8.6 million Series A investment round. Co-led by Project A and Index Ventures, they have received backing from a consortium of investors, including Sweet Capital and JamJar Investments in a bid to accelerate geographic expansion.
A New Genre
Electronic Theatre is a new genre of group entertainment offering immersive adventures in interactive digital rooms.
"In an age where many people worry that technology is driving us apart, we wanted to use technology to build something to remind us how much we have in common", states the team behind Electronic Theatre.
Their custom-developed ‘LightBox’ Adventure Pods host up to six players at a time and feature a range of technologies including projection mapping, touch screens, motion tracking and surround sound. This cutting-edge tech delivers a hyper-immersive, interactive group experience for all the family.
Electronic Theatre opened their first site in October 2019 on London’s Southbank. Since the launch, they have had a flood of interest, welcoming over 3.5k people through their doors, selling out coveted weekday-evening and weekend slots.
An Electronic Theatre adventure has rapidly become the hottest Christmas party venue of 2019. Initial customer reviews have loved the unique technology and the social aspect of the adventures, with more than 10 percent returning to try another.
The New Investment
The new investment will provide Electronic Theatre with the resources to support the development of the technology platform and geographical scale-up. In 2020, they plan to roll out 9 new units in the UK and up to 3 units in the US.
In line with their vision to create an entirely new entertainment platform that will eventually be opened up to third party developers and operators, they expect 1 000 units to be opened globally in the next five years.
Further development of their LightBoxes will see new features added, including participant video capture with development on their existing photo capture, higher definition sound, voice recognition and multi-directional audio, as well as the creation of new content.
Partner at Project A, Florian Heinemann said on behalf of the VC fund: “We firmly believe that digitally-enabled experiences will develop into a leading category in the entertainment space. eT has created a truly unique approach that has been very well received by initial customers. We are very happy to back this incredible team.”
Electronic Theatre New Developments
All adventures featured at Electronic Theatre are developed in-house. Development work on new adventures to follow ‘Alien Aptitude Test’ and ‘Rescue The Royals’ has already begun. Four new adventures are slated for 2020, including a dedicated kids adventure.
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