virtual reality Startups

Billy McFarland, infamous for the failed Fyre Festival, is attempting a comeback with Pyrate, a platform that hosts small groups (6-15 people) on private island adventures while livestreaming experiences to virtual audiences who can interact and influence real-world events in real-time. The venture aims to generate revenue through micro-transactions (e.g., $0.20 per action) from millions of virtual viewers, with aspirations to exceed the Bahamas' annual tourism numbers through virtual attendance.

Moth and Flame is an award-winning immersive VR learning platform founded in 2015 that helps enterprises drive behavior change through virtual reality training experiences. After launching with custom innovation projects, they pivoted to a SaaS model in 2019 when Accenture approached them, and have grown to $5M in total revenue with $2M recurring (40% of revenue). The team of 39 is targeting a Series A of $10-12M to build out synthetic media and NLP capabilities, positioning themselves as the Squarespace for VR.