“I wanted to take people to another world,” Spaces Inc. co-founder and Chief Executive Shiraz Akmal told the Business Journal at the preview event of its new Terminator VR experience: “Terminator Salvation: Fight for the Future.”
Spaces, based in Burbank, chose Orange County for its first store location, an approximately 7,000 square-foot “experience center” at the Irvine Spectrum Center.
OC-based serial entrepreneur Anna Liu is one of the investors in the Spectrum Center Spaces site, according to company executives.
Liu couldn’t be reached for comment. Spaces executives said that she founded several technology and machinery companies, including her first business, O&K Transmission Technology China Co., the China operation of German gearbox company O&K Antriebstechnik. O&K became part of Bonfiglioli in 2016.
She started her venture investment firm in 2013.
Local Investors
Spaces is planning other locations; Akmal said each will include local investors.
“We considered other locations, but OC [was] definitely a top choice. I can’t think of a location better suited, an iconic location for ‘entertainment and shopping,’ and right off the 405 [Freeway],” he said.
The location-based VR experience is based on the 2015 film “Terminator Genisys.” Santa Monica-based Skydance Media owns the rights to the Terminator franchise.
During last month’s preview event, players were briefed that in order to save humanity they must become terminators and destroy Skynet. Sensors were strapped to wrists and ankles, “location sensors,” he explained, and also a backpack with an attached VR headset.
A personal touch—the faces of participants, who play in teams of four, were scanned and applied to terminator avatars.
After completing the mission, players have the option to download individual point-of-view videos with action highlight clips that can be shared on social media.
“You experience the game, and you also get to walk away with the experience,” said Akmal.
Dreamers
Prior to launching Spaces in early 2016, Akmal and Chief Technology Officer and co-founder Brad Herman worked together at DreamWorks Animation’s DreamLab, where Akmal led the business and product development and Herman oversaw technology development for mobile, immersive and interactive experiences.
Comcast Ventures led the 2016 seed round of $3 million. Investors included artificial intelligence expert Kai-Fu Lee and his firm, Sinovation Ventures. Lee is former president of Google China.
Comcast Corp. (Nasdaq: CMCSA) acquired DreamWorks in August 2016 for $3.8 billion.
Spaces has raised $9.5 million, including a $6.5 million round last year led by Songcheng Performance Development, China’s largest theme park company. The investment came after Songcheng announced a $30 million joint venture with Spaces to add VR and mixed-reality elements to its existing attractions.
“The next generation is looking for something very interactive, something they can do together,” Akmal said.
He said there are several models for generating revenue, including owned-and-operated, partnership-based revenue sharing and licensing.
Spaces employs 20. It’s hiring game engineers as it looks to expand locations and develop new games and features.
