Immersive technology company Cosm has raised more than $250 million in funding to drive long-term growth of its immersive entertainment venues.
After opening its first venue at Los Angeles’ Hollywood Park last month, Cosm will use the new capital to scale up operations and focus on growing its technology, media business and development of additional venues globally.
Cosm's latest round of funding comes in part from investor Steve Winn, CEO of Mirasol Capital, and new investors Avenue Sports Fund, Dan Gilbert's Rock, Baillie Gifford and David Blitzer's Bolt Ventures.
Cosm President and CEO Jeb Terry said that the company has “aligned with the real estate community” to source its locations across the U.S., with a “fast-growing waitlist” of developers interested in bringing Cosm to more cities.
"We've opened our first venue in Los Angeles to an overwhelmingly positive response from the local community and fans experiencing 'Shared Reality' for the first time,” Terry said in a statement. “As Cosm continues to push boundaries, we are bringing on new financial partners, all of whom carry the strategic weight to match their investing acumen, providing invaluable insights and growth capital that will help us achieve our biggest vision and aggressively scale the business."
Winn of Mirasol Capital said in a statement that adding strategic and financial partners is part of Cosm’s “rapid expansion” into other locations.
Founded in 2020 with the acquisition of technology and computer graphics company Evans & Sutherland, Cosm is opening its second venue later this year in Dallas at Grandscape. Last week, the company announced its third venue in Atlanta at Centennial Yards.
Programming at Cosm's venues include live sports offerings through official partnerships with the NBA, UFC, ESPN, NBC Sports, TNT Sports and Fox Sports. Art and entertainment experiences such as Cirque du Soleil and immersive projects from members of the Cosm Studios Creator Program are also presented at the venue.
Allen & Co. LLC served as Cosm's financial advisor.
Cosm is headquartered in Los Angeles with satellite offices in Texas, Utah, Pennsylvania, New York and India.
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