Why Transcend Invested In Eggscape
Updated: Oct 20
In the ever-evolving world of digital entertainment, rare convergences of technology and creativity mark the dawn of new eras. Today, Transcend proudly leads a $4.25 million Seed investment in Eggscape Entertainment, heralding a significant inflection point in the realm of virtual reality: the rise of mixed reality or spatial computing.
Eggscape, co-founded by the acclaimed trio from 3DAR – German Heller, Federico Heller, and Jorge Tereso – along with hardware wizard Brandon Maseda, brings an unparalleled blend of creative genius and technological prowess. This team's legacy includes Sundance accolades and a history of boundary-pushing in VR and immersive experiences.
Their latest creation? A mixed reality game that seamlessly merges the virtual and the physical. It's not just a game; it's a new paradigm in play. Featuring Pixar-quality animation, a vibrant cast of characters, and an engaging narrative, this game offers both pre-designed adventures and a world builder for user-generated content, promising endless replayability.
AN AWARD-WINNING TEAM
Before Eggscape, the founders built 3DAR in Buenos Aires into one of the most decorated studios in immersive storytelling. Their VR films include Gloomy Eyes, narrated by Colin Farrell, and Paper Birds, featuring Edward Norton. Eggscape itself won the Special Jury Prize at Venice Immersive, part of the 2022 Venice International Film Festival, and was selected for the XR Experience Spotlight at SXSW in 2023.
SHAPING THE FUTURE OF PLAY
Up to four players share the same physical space, with each level laid over the room around them. The team first brought the game to shopping malls, arcades and experience centers, where people can play mixed reality without owning a headset, and showed it at GDC and the Amusement Expo in 2023.
But why Eggscape, and why now? The numbers speak volumes: The AR/VR industry is on a trajectory to hit $80 billion by 2028, growing at a 32% annual rate. The Quest Store's revenue has quintupled since 2019, surpassing $2 billion. The release of Quest 3 and Apple's Vision Pro announcement signal a mainstream embrace of VR, further bolstered by upcoming innovations from giants like Samsung/Qualcomm and Nintendo/Google.
Most compellingly, a new generation of gamers is integrating VR into their daily social and play routines, a trend Eggscape is poised to capitalize on. Their mixed reality-first approach, coupled with potential for cross-platform and transmedia expansion, positions them at the forefront of this burgeoning market.
Transcend's investment in Eggscape is more than a portfolio addition; it's a commitment to pioneering a new gaming frontier, embodying our mission to transform the industry and craft experiences that redefine gaming. Join us in this journey as we shape the future of play.
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ABOUT ANDREW SHEPPARD Andrew is Managing Director at Transcend. A gaming executive with over 20 years of operational experience, he has built consumer businesses generating over $6 billion in revenue across console, PC, and mobile. Previously, Andrew was President of Studios at Kabam, where he drove 100%+ annual revenue growth, scaling the company to $400M in peak ARR and a $1B+ exit. He also served as CEO of GREE International and Head of Strategy at EA Maxis. Andrew holds an MBA from UC Berkeley Haas and currently serves on the boards of GDEV (NASDAQ), Virtuos Holdings, Ruckus Games, Fun Country, Eggscape, Live Aware Labs, and WeLevel. |
ABOUT TRANSCEND Transcend is a top quartile early-stage venture firm that backs AI-native entrepreneurs building the next generation of interactive entertainment. In a $263B global industry where AI is rewriting the economics, we partner with the founders leading that shift from pre-seed through Series A. Founded in 2020 by veterans with 70+ years of operator experience and $10B+ in lifetime revenue. Learn more at transcend.fund and follow us on LinkedIn. |
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