Dubai-Based HyperSpace Secures $11M in Seed Round

The funding is one of the largest seed rounds ever seen in Middle East

Dubai-based Extended Reality (XR) Tech startup HyperSpace has secured US $11M inequity and development seed funding round.

Introsight and Dubai Financier Mohammed Afkhami led the funding. GoPuff Founder and CEOs Yakir Gola and Rafael Ilishayev, Bolur Capital, Farbro Group, and Scott Ross of HillPath Capital Partners participated in the round.

HyperSpace, founded in 2020, is a company building the world’s first Blockchain-enabled and Extended Reality (XR) native physical attractions.

The investment aims to create immersive entertainment attractions for a social media and metaverse generation.

The funding will develop proprietary-owned technologies that will create transparent blockchain integration, real-time asset creation, and a living augmented reality (AR) layer over physical space within an entertainment park – bringing the virtual to reality.

HyperSpace develops a physical front end to the metaverse, purpose-built physical environments with real-time connectivity to digital worlds and lifestyles.

HyperSpace’s funding will support the development of the interconnected software platform and real-world locations to create a bridge to the metaverse.

HyperSpace plans to open two entertainment parks in Dubai in the second half of 2022 – House of Hype in Dubai Mall across 100,000 sq. ft, and AYA at Wafi City across 40,000 sq. ft.

Alexander Heller, founder and CEO of HyperSpace, highlighted, “Digital natives are continually demanding evermore immersive and authentic online experiences. We answer the demand for interactive experiences by building entertainment parks in the real world, overlaid with the latest digital technology.”