Dubai-based extended reality startup, HyperSpace, has raised $11 million in seed funding led by Introsight and Dubai financier Mohammed Afkhami.

The company was founded by Alexander Heller in 2020 and aims to create immersive physical attractions worldwide. The company plans to bring blockchain integrations with VR, facilitate real-time asset creation, bring augmented reality to the entertainment park atmosphere, and deliver a metaverse-based experience to its young audience.

GoPuff founder and CEOs Yakir Gola and Rafael Ilishayev, Bolur Capital, Farbro Group, and Scott Ross of HillPath Capital Partners participated in the funding round, which is considered one of the largest seed rounds in the Middle East.

HyperSpace intends to use the funds to develop its two entertainment parks, scheduled to open in Dubai in 2022. The two locations are AYA at Wafi City, at around 3,700 square meters, and House of Hype in Dubai Mall, at nearly 9,300 square meters.

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