The unique outfit will channel the funds into developing two massive entertainment parks in 2022.
HyperSpace, a Dubai-based blockup-enabled extended reality startup, has raised $11 million in equity and development seed funding led by Introsight and Dubai financier Mohammed Afkhami.
Founded in 2020 by Alexander Heller, HyperSpace looks to create immersive physical attractions, with transparent blockchain integration to help bring the virtual into reality - in other words, to implement real-time asset creation and a living augmented reality layer within the context of an entertainment park to create attractions for a generation that is ingrained with social media and the metaverse.
With participation from GoPuff founder and CEOs Yakir Gola and Rafael Ilishayev, Bolur Capital, Farbro Group, and Scott Ross of HillPath Capital Partners, the funding is considered one of the largest seed rounds in the Middle East.
HyperSpace looks to use the funding to open two entertainment parks in Dubai in 2022: AYA at Wafi City, at around 3,700 square metres, and House of Hype in Dubai Mall, at nearly 9,300 square metres.