Wednesday, July 29, 2020

Joymode Acquired By XRC Labs

Los Angeles-based Joymode, which had run a consumer focused, rental service to help people rent--rather than buy--all of the things needed for "experiences" such as a backyard movie night, or camping, or virtual reality, has been acquired by New York-based XRC Labs. Financial details of the acquisition were not announced. Joymode was venture backed by Naspers, TenOneTen, Wonder, Struck Ventures, and Homebrew, and had raised more than $17M in total funding. The company was founded by Joe Fernandez. The company's original intent was to make it easier for people to have experiences without needing to own or store more things.