By REBECCA ANNE PROCTOR — arabnews.com — DUBAI: As Saudi Arabia enters another busy event season, including grand city-based celebrations in Riyadh and Diriyah, a host of new entertainment ventures powered by new technology are opening up in the Kingdom. The latest move came in October when the Kingdom announced it was investing $55 million in HyperSpace, a three-year-old Saudi startup that designs digital theme parks within shopping centers. The funding came from Riyadh Season, a government-backed entertainment initiative under the Public Investment Fund, which provided most of the debt and equity raised by HyperSpace.
The other participants in the financing round included US-based Galaxy Interactive, Georgia SEGA Ventures and UK-headquartered Apis Venture Partners. “It’s really the world’s most innovative entertainment attraction,” Alexander Heller, the CEO of HyperSpace, told Arab News, adding: “It offers a completely new approach to location-based entertainment, as an attraction that is extremely innovative, built on technologies that already exist in the digital world and are being pulled into a physical front end for the first time.” Heller describes the attraction as like “TikTok and Fornite had a big physical baby.” He added: “It is part content creation arena and part physical video game. A park truly built on larger themes of content consumption, internet culture, and hype culture moving into a physical front-end entertainment space.”
HyperSpace features a mix of digital and physical entertainment, including gaming attractions, immersive theater experiences and interactive areas for content creation. The company opened its latest venue, House of Hype, in the capital city as part of the fourth edition of Riyadh Season, dubbed the world’s largest winter entertainment event. Bight and colorful phosphorescent lights greet guests, who enter several futuristically designed rooms in the new Riyadh House of Hype.