Store No. 8, US retail giant Walmart’s tech incubator, has acquired virtual reality startup Spatialand to help develop VR products for the retailer’s online and offline stores. The financial details were not disclosed.
Spatialand, which provides software tools for creators to transform content in VR experiences, previously worked with Store No. 8 on last year's Innov8 VR gala, and has now become the incubator’s third portfolio company.
The new VR company formed out of the acquisition will operate in stealth, while Store No. 8’s principal Kate Finnegan will take up the role of interim CEO. Finnegan will be joined by Spatialand’s founder Kim Cooper and Store No. 8 consultant Jeremy Welt in senior roles within the company.
“Together, we will continue to evolve this technology and develop new product exploration through immersive retail environments,” said Finnegan in a blog post. “I can’t imagine having better partners than Kim and Jeremy on board to lead us on this journey.”