Indie Game Studio Thatgamecompany Raises $160 Million to Build a Virtual 'Theme Park'

Samson Amore

Samson Amore is a reporter for dot.LA. He holds a degree in journalism from Emerson College. Send tips or pitches to samsonamore@dot.la and find him on Twitter @Samsonamore.

A promo image from "Sky: Children of Light”
Courtesy of Thatgamecompany

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Santa Monica-based indie gaming studio Thatgamecompany has raised $160 million as it seeks to parlay games like “Sky: Children of Light” into a “theme park”-like metaverse experience.

The funding was led by private equity giant TPG—which invested through its tech-focused, $1.5 billion Tech Adjacencies fund—and venture firm Sequoia Capital. Thatgamecompany plans to use the capital to expand its roughly 100-person staff to more than 150 people and develop upcoming games, co-founder and CEO Jenova Chen told VentureBeat.


The startup was founded in 2006, by University of Southern California students Chen and Kellee Santiago, with the goal of creating games that put the player at the center of an emotional escapade. The studio got its start with the title “Flow” for Sony’s PlayStation 3; the Japanese firm was an early investor in Thatgamecompany, providing it with a three-game production deal and housing the four-person startup at Sony’s Los Angeles office.

\u200bThatgamecompany co-founder and CEO Jenova Chen

Thatgamecompany co-founder and CEO Jenova Chen.

Courtesy of Thatgamecompany

Thatgamecompany later won critical acclaim for its 2012 PlayStation game “Journey,” as well as its most recent game, 2019’s “Sky: Children of Light,” which was released on mobile devices and the Nintendo Switch. “Sky” won several awards and has been downloaded more than 160 million times.

Chen told VentureBeat his larger goal is to turn games like “Sky” into an immersive, interactive “theme park” experience. “There isn’t that equivalent of a kind of Disneyland experience or a Pixar movie experience in the game industry even today,” he said. “Hopefully, Sky and our future games will all be part of the theme parks in the future, like in a connected metaverse.”

To that end, Thatgamecompany also announced that Pixar co-founder Ed Catmull has joined the company as a “principal advisor on creative culture and strategic growth.”

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How to Navigate LA Tech Week 2026

🔦 Spotlight

Happy Friday, Los Angeles.

Next week, hundreds of tech events will take over the city, bringing founders, investors, engineers and creators together from October 12 through 18.

Calling LA Tech Week a conference does not quite capture the experience.

Presented by Andreessen Horowitz, Tech Week is a decentralized collection of panels, workshops, demonstrations and gatherings hosted independently by startups, venture firms and technology companies. There is no convention center or central stage. The programming stretches from Santa Monica and Venice to Culver City, Downtown, El Segundo and beyond.

In other words, the city is the venue.

AI remains the dominant theme for 2026, appearing across enterprise software, healthcare, finance, media and the creator economy. The schedule also reflects industries where Los Angeles has built a particular advantage, including aerospace, defense, robotics, advanced manufacturing, entertainment and consumer technology.

That range is what makes LA Tech Week distinct. It brings together the software companies shaping what comes next with the industries that already define Southern California.

The challenge is deciding where to show up.

Our advice: apply early and organize your schedule by neighborhood. Crossing from Santa Monica to Downtown may look manageable on a calendar created by someone who has never driven in Los Angeles.

To help you spend more time meeting people and less time crossing the city, we have organized each day’s events by location:

You can also browse the complete official LA Tech Week calendar.

Plan carefully, but do not fill every minute. The best conversation of the week may be the one that was never on your calendar.

More from this week’s LA startup and venture scene below.

🤝 Venture Deals

    LA Companies

    • El Segundo-based Gallatin AI raised a $50M Series A from new and existing investors including 8VC and Silent Ventures, bringing its total funding to $70M. The defense technology startup will expand its engineering team and advance Navigator, an AI platform that helps U.S. military units coordinate vehicle readiness, supplies, medical logistics and other mission-support operations. - learn more
    • Pasadena-based quantum computing startup Oratomic raised a $475M Series B at a $5.4B valuation, just three months after its Series A. ARCH Venture Partners, Spark Capital, Khosla Ventures, Index Ventures, General Catalyst and Bezos Expeditions co-led the round, bringing Oratomic’s total funding to $775M as it works toward a commercially viable, fault-tolerant quantum computer by 2030. - learn more
    • Torrance-based Fortastra raised a $30M Series A led by First In, with participation from Upfront Ventures, Space Capital, Rsquared, Side Door Ventures, ATX Ventures and existing investors. The company will use the capital to develop its next-generation maneuverable spacecraft, expand its engineering and operations teams and scale production of systems designed to protect critical assets in orbit. - learn more
    • Parallel Systems raised a $100M Series C led by AVP, with participation from Hillspire, Agility Global, Cobalt Capital, Anthos Capital, Congruent Ventures, Riot Ventures and Collaborative Fund. Founded by former SpaceX engineers, the company will use the funding to scale production and commercial deployment of its autonomous, battery-electric Panther rail vehicles, which are designed to make short-haul freight more competitive with trucking. - learn more
    • Gaming studio Gardens Interactive secured more than $35M in a Series B led by Lightspeed, with participation from Sequoia Capital, Index Ventures, Accel, Innovation Endeavors, Zenith Capital and other investors. The company will use the funding to launch and operate its debut social role-playing “strandbox” game, an evolving multiplayer world shaped by players’ actions and interactions. - learn more
    • Outer Spaces raised an $8M pre-seed round led by Upfront Ventures, with participation from Unlock Venture Partners, Mucker Capital and Genius Ventures. The startup is developing outdoor furnishings with integrated solar panels and batteries, turning backyards into sources of clean energy and backup power. - learn more
    • Furientis raised a $25M seed round led by Benchmark at a reported $125M valuation, following a $5M pre-seed announced in May. The defense startup will use the capital to scale production of lower-cost missile interceptors designed to be assembled quickly with readily available components, with a long-term goal of producing 1,000 systems annually at each factory. - learn more
    • Hiyo raised a $20.8M Series B led by Constellation Brands, with returning investor Live Nation also participating. The nonalcoholic beverage company will use the funding to expand its adaptogen- and nootropic-infused social tonics across more than 13,000 retail locations while growing its presence at hospitality venues and live events. - learn more
    LA Venture Funds
    • Navitas Capital participated in Vesta’s $30M Series B, which was led by Conversion Capital and included backing from several major mortgage lenders and financial institutions. The company will use the funding to scale its AI agents across mortgage origination, automating tasks such as application reviews, underwriting decisions and closing-document checks. - learn more
    • MTech Capital led Nettle’s oversubscribed $4.8M seed round, with participation from Project A Ventures, Sure Valley Ventures, Portfolio Ventures and Ventures Together. The insurtech startup will use the funding to expand across the U.S. and Europe while growing its AI platform, which helps commercial insurers identify property risks, accelerate inspections and generate reports. - learn more
    • Bonfire Ventures doubled down on Santé by participating in the company’s $15M Series A, which was led by FINTOP and included other returning investors. The New York startup will use the funding to expand its AI-powered operating system for independent wine and liquor stores, which combines point-of-sale, e-commerce, payments, inventory and marketing tools in one platform. - learn more

    LA Exits

    • Winnow Solutions was acquired by Marina del Rey-based Spring Labs, with financial terms undisclosed. Winnow’s attorney-built library of more than 100,000 state and federal regulatory requirements will become a core part of SpringGRC, helping financial institutions connect changing laws directly to their compliance policies, controls and workflows. - learn more

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      LA Tech Week 2026: Sunday’s Event Lineup

      🔦 Spotlight

      LA Tech Week 2026 closes Sunday with one final day of events across Los Angeles. We have organized the remaining lineup by neighborhood so you can finish the week with a few last conversations before everyone returns to their regularly scheduled inboxes.

      ARTS DISTRICT

      12:00 PM

      CARSON

      12:00 PM

      CULVER CITY

      9:00 AM

      • Women in Cleantech & Sustainability Hike and Network: See Details Here
        Women in Cleantech & Sustainability

      6:00 PM

      • Founders pitch competition: See Details Here
        Biomorphix solutions, Nightingale regenerative

      HOLLYWOOD

      10:00 AM

      4:00 PM

      • AI International: Film, Music Video & Micro-Drama: See Details Here
        AI International Film Festivals

      MID CITY

      1:00 PM

      OTHER

      12:00 PM

      • ORGANIC LIFE LABS™ PRESENTS THE ALIGNMENT LAB: The Science of human performance: See Details Here
        The Blue Room Collective

      SANTA MONICA

      8:00 AM

      1:00 PM

      6:00 PM

      SOUTH LA

      2:00 PM

      • Future Builders : Family STEM Day: See Details Here
        Black L.A. Tech Week (Community Collective)

      VENICE

      10:00 AM

      12:00 PM

      • How to Raise Funds to Fund Any Business Using Digital Products.: See Details Here
        DN Events

      VIRTUAL

      5:00 PM

      WEST HOLLYWOOD

      3:00 PM

      Each session provides unique opportunities to gain insights, network, and explore various fields of tech innovation. For updates or more event information, visit the official Tech Week calendar.

      Download the dot.LA App

      LA Tech Week 2026: Saturday’s Event Lineup

      🔦 Spotlight

      LA Tech Week 2026 heads into the weekend Saturday with more opportunities to learn, meet fellow builders and explore what is being created across the region. Browse the day’s events by neighborhood below and find the gatherings worth leaving the house for.

      ARTS DISTRICT

      5:30 PM

      BEL AIR

      5:00 PM

      CULVER CITY

      10:00 AM

      1:00 PM

      4:00 PM

      DOWNTOWN

      11:00 AM

      2:00 PM

      • South Asians in Space, Physical AI: See Details Here
        american south asian network

      5:00 PM

      7:00 PM

      HOLLYWOOD

      8:00 PM

      INGLEWOOD

      10:00 PM

      LONG BEACH

      10:00 AM

      12:00 PM

      LOS FELIZ

      8:30 AM

      • Griffith Observatory Hike with Longevity Cities & Don't Die LA: See Details Here
        Longevity Cities

      MALIBU

      5:00 PM

      MARINA DEL RAY

      9:30 AM

      • The Brazen Capital Walk: Connecting Women, Capital & Opportunity: See Details Here
        BrazenEra

      6:00 PM

      • Build an AI workflow editor, natively in Angular: See Details Here
        Workflow Builder

      SANTA MONICA

      7:00 AM

      • Founders Running Club Run in Santa Monica: See Details Here
        Founders Running Club, MongoDb

      9:00 AM

      • MOLTEN - Spatial hackathon (ElevenLabs, AssemblyAI, Rokoko, Datafeel...): See Details Here
        Field Lab

      2:00 PM

      3:30 PM

      6:00 PM

      7:00 PM

      SOUTH LA

      7:00 PM

      THE VALLEY

      7:30 PM

      UCLA

      11:00 AM

      USC

      9:00 AM

      10:00 AM

      10:30 AM

      VENICE

      8:00 AM

      • Open Air Health Tech: See Details Here
        Open Air Health Tech, Bowshock, Govitamins App

      10:00 AM

      10:30 AM

      11:00 AM

      12:00 PM

      6:00 PM

      • Bots, Bytes & Bubbles Benefit: See Details Here
        Distinguished Minds Institute dba thinqueBytes®

      VIRTUAL

      9:00 AM

      • Ask a VP of Sales: Live GTM Office Hours for Early-Stage B2B Founders: See Details Here
        Kat Rucker Consulting Group

      11:00 AM

      WEST HOLLYWOOD

      11:00 AM

      • The 10x Engineer Showed Up. The 10x Organization Didn't.: See Details Here
        Workflow Builder, Tentaro

      3:00 PM

      WESTSIDE

      11:00 AM

      2:00 PM

      • Graphic Design & Digital Printing Meetup: See Details Here
        Big Frog Custom T-Shirts & More of West LA

      7:00 PM

      WESTWOOD

      12:00 PM

      Each session provides unique opportunities to gain insights, network, and explore various fields of tech innovation. For updates or more event information, visit the official Tech Week calendar.

      Download the dot.LA App

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