new tech-enabled experience

Immersive mixed-reality exhibit lights up Houston-area suburb

Grab a lantern and enter an epic journey. Photo courtesy of Department of Wonder

Immersive experiences are all the rage; Houston already boasts two Van Gogh experiences (including yoga) and a Frida Kahlo event on the way.

Now, a new entertainment concept offering up exploration and discovery will open its first Houston location in Sugar Land in early 2022. But rather than passive viewing, this immersive activity sets the visitors on a quest in both physical and digital worlds.

Department of Wonder is a new, 10,000-square-foot venue that stages an immersive, mixed-reality fantasy in Sugar Land’s Town Square (2180 Lone Star Dr.). Guests wield a light-gathering lantern and are charged with unraveling stories and solving puzzles amidst a universe of interactive experiences and colorful characters, per a release.

This totally lit experience was forged by an acclaimed creative team of storytellers; recognizable names include Academy Award-winning director Brandon Oldenburg and Emmy Award-winning director Limbert Fabian.

“It’s like stepping inside a film as the main character and being bestowed an epic quest,” said Oldenburg in a statement. “We think it’s the next evolution of location-based entertainment.”

The introduction of the Department of Wonder will coincide with the completion of significant streetscape improvements to the 32-acre Sugar Land Town Square. The bustling shopping, dining, and community hub is in the midst of a major set of upgrades to retail tenancy, event programming, and the physical environment.

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This article originally ran on CultureMap.

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Originally expected to raise $150 million, Mercury's latest fund is the largest raised to date. Photo via mercuryfund.com

A Houston venture capital firm has announce big news of its latest fund.

Mercury, founded in 2005 to invest in startups not based in major tech hubs on either coast, closed its latest fund, Mercury Fund V, at an oversubscribed amount of $160 million. Originally expected to raise $150 million, Fund V is the largest fund Mercury has raised to date.

“We are pleased by the substantial support we received for Fund V from both new and existing investors and thank them for placing their confidence in Mercury,” Blair Garrou, co-founder and managing director of Mercury Fund, says in a news release. “Their support is testament to the strength of our team, proven investment strategy, and the compelling opportunities for innovation that exist in cities across America.”

The fund's limited partners include new and existing investors, including endowments at universities, foundations, and family offices. Mercury reports that several of these LPs are based in the central region of the United States where Mercury invests. California law firm Gunderson Dettmer was the fund formation counsel for Mercury.

Fresh closed, Fund V has already made investments in several companies, including:

  • Houston-based RepeatMD, a patient engagement and fintech platform for medical professionals with non-insurance reimbursed services and products
  • Houston and Cheyenne Wyoming-based financial infrastructure tech platform Brassica, which raised its $8 million seed round in April
  • Polco, a Madison, Wisconsin-based polling platform for local governments, school districts, law enforcement, and state agencies
  • Chicago-based MSPbots, a AI-powered process automation platform for small and mid-sized managed service providers

Mercury's investment model is described as "operationally-focused," and the firm works to provide its portfolio companies with the resources needed to grow rapidly and sustainably. Since 2013, the fund has contributed to creating more than $9 billion of enterprise value across its portfolio of over 50 companies.

“Over the past few years there has been a tremendous migration of talent, wealth and know-how to non-coastal venture markets and this surge of economic activity has further accelerated the creation of extraordinary new companies and technology," says Garrou. "As the first venture capital firm to have recognized the attractiveness of these incredible regions a dozen years ago, we are excited to continue sourcing new opportunities to back founders and help these cities continue to grow and thrive.”

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