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.
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, with the app dominating download charts in the 2024 holiday season. 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.
About Transcend
Transcend is a top performing early stage venture capital firm that partners with the boldest founders in the industry to collaboratively build the future of interactive entertainment.
Founded in San Francisco by gaming veterans, the Transcend portfolio features a preeminent group of high growth digital entertainment companies around the world.
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About Andrew Sheppard
Andrew Sheppard is a seasoned strategist and gaming executive working today as an investor, advisor and public company board member for some of the best teams in media and entertainment.
Andrew has 20+ years of operating experience building, growing and managing multi-billion dollar consumer businesses. Earlier in his career, Andrew was CEO of GREE International, President of Studios at Kabam and Head of Strategy at Electronic Art's Maxis Studio. He holds a degree in Economics from Pomona College and an MBA from the University of California, Berkeley's Haas School of Business.