
Pillow's Willow VR Studios
Game developer that focuses on VR, AR and mixed reality.
USD | 2020 | 2021 | 2022 | 2023 |
---|---|---|---|---|
Revenues | 0000 | 0000 | 0000 | 0000 |
% growth | - | 50 % | - | 33 % |
EBITDA | 0000 | 0000 | 0000 | 0000 |
Profit | 0000 | 0000 | 0000 | 0000 |
EV | 0000 | 0000 | 0000 | 0000 |
EV / revenue | 00.0x | 00.0x | 00.0x | 00.0x |
EV / EBITDA | 00.0x | 00.0x | 00.0x | 00.0x |
R&D budget | 0000 | 0000 | 0000 | 0000 |
Source: Dealroom estimates
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Pillow's Willow VR Studios, operating under the name PWXR, is a Dutch technology company founded in 2016 by Peter Kortenhoeven, a veteran of the Dutch game industry. Kortenhoeven, who previously worked at Triumph Studios, initially developed the company's concepts in his spare time before receiving coaching and financial backing from LUMO Labs, a venture building program. The company's early focus was on non-violent, casual VR games with a distinct 'dollhouse perspective' inspired by the founder playing with his daughter, leading to the award-winning title 'Spark of Light'.
PWXR has since pivoted to concentrate on the burgeoning active esports market, targeting a fusion of physical activity and immersive gaming. The company's flagship product is the Active Esports Arena (AEA), an XR platform where players use their entire body as a controller, promoting physical fitness in a competitive gaming environment. This system utilizes wireless, full-body tracking technology that can monitor multiple users in real-time, translating movements like running and jumping into the virtual arena without the need for heavy sensors. The AEA is designed for 2 vs. 2 matches where teams compete in a series of short, high-intensity challenges inspired by sports but not direct simulations, focusing on response, timing, and coordination.
The business model targets both consumers and organizations, with applications in entertainment centers, events, and school programs. By organizing competitions and partnering with local sports clubs, PWXR aims to engage younger generations, particularly GenZ, who are more inclined towards gaming, and reintroduce them to physical fitness. Revenue streams are diversified, including fees from events, competitions, and potential brand activations where the virtual arena can be customized for corporate sponsors. Currently in a Series A funding stage, the company is focused on enhancing its technology by exploring 5G and 6G integration to improve performance and scalability, with the long-term goal of making the system accessible for at-home use.
Keywords: active esports, full-body VR, XR gaming, motion capture, gamified fitness, location-based entertainment, VR development, esports platform, physical gaming, interactive entertainment