What Innerspace does

Innerspace VR is a Paris-based VR creation studio developing narrative-driven virtual reality games and immersive experiences for both consumer VR platforms and location-based entertainment venues. Founded in 2016 with a team of 1-10 employees, the studio has produced more than 13 VR titles spanning narrative puzzle games (the Fisherman's Tale series, Maskmaker, One True Path), location-based escape games (The Corsair's Curse), and artistic or cultural installations (Kubo Walks the City, The Forgotten War, Peach Garden, Eternal Walkers). Its core technology stack is built on Unreal Engine, augmented by two proprietary internal frameworks — the Dollhouse Interaction Framework for rapid iteration on VR interactions and a node-based Narration Framework that gives storytellers creative control over code-intensive narrative building blocks.

The studio generates revenue through four channels: one-time consumer purchases of VR games on Meta Horizon Store, Steam, PlayStation Store, and Viveport; yearly LBVR licensing for location-based deployments; publishing partnerships with Vertigo Games (Another Fisherman's Tale and other titles) and MWM Interactive (Maskmaker); and non-dilutive grant funding from Creative Europe MEDIA, CNC, Region Ile de France, and Epic MegaGrants. Distribution for LBVR and museum installations is handled through partners including Illucity, Synthesis VR, Diversion Cinema, and various European and Korean cultural institutions. The company has not disclosed institutional equity funding.

Innerspace serves three primary customer segments: casual VR consumers on consumer headsets, location-based entertainment operators seeking premium VR content, and cultural institutions and museums requiring artistic VR installations. The studio has built a strong festival-circuit reputation, with titles selected or awarded at Tribeca, Venice Film Festival, IndieCade, AIXR, Munich Virtual Worlds, and other major venues. Leadership comprises creative director and co-founder Balthazar Auxietre, producer and co-founder Hayoun Kwon, and lead developer Julien Le Corre.

Name

Innerspace

Legal name

InnerspaceVR

Website

https://innerspacevr.com

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

1–10 employees

Short description

Innerspace VR is a Paris-based VR studio developing narrative-driven virtual reality games and immersive experiences for consumer headsets and location-based entertainment. The studio distributes across Meta Quest, Steam, PlayStation, and Viveport, with revenue from game sales, LBVR licensing, and cultural grants.

Ownership category

akta.pro rank

Product category

VR Games and Immersive Entertainment

NAICS

Software Publishers (5132), Amusement Parks and Arcades (7131)

SIC

Services-Amusement & Recreation Services (7900), Services-Prepackaged Software (7372)

akta.pro primary industry

VR/AR/XR Game Studios (MPAFAAAE)

akta.pro secondary industries

Immersive/Interactive Animation (AR/VR/Real-Time) (MPAHACAN), VR & Immersive Esports/LBE Venues (VR Arenas, Sim Racing Pods) (MPAFALAE), VR/AR Game Publishing & Distribution (MPAFABAK)

Keywords

• VR game development
• Immersive entertainment
• Location-based VR
• Narrative VR experiences
• Virtual reality games

Headquarters

HQ city

Los Angeles

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations

Revenue model

1. VR Game Sales: One-time purchase revenue from VR games sold through major platforms including Quest, Steam, PlayStation VR, and Viveport.
2. LBVR Licensing: Yearly licensing scheme for location-based VR escape games like The Corsair's Curse, available for deployment in VR parks worldwide.
3. Government & Cultural Grants: Support received from Creative Europe MEDIA, CNC, Region Ile de France, and other cultural funding bodies for development of artistic VR experiences.
4. Epic MegaGrants: Development funding from Epic Games for A Fisherman's Tale and Peach Garden projects.

Pricing tiers

Go-to-market motion3 records

Distribution channels9 records

Marketing channels5 records

Core offering

Innerspace VR develops and publishes narrative-driven virtual reality games, location-based VR escape experiences, and immersive 360-degree artistic/cultural installations for the major VR platforms (Meta Quest, Steam, PlayStation VR/PSVR2, Viveport). The studio also builds proprietary Unreal Engine frameworks — the Dollhouse Interaction Framework and a Node-based Narration Framework — that it uses internally to accelerate development of immersive entertainment. Revenue is generated through one-time consumer game sales, multi-year licensing of LBVR titles (e.g., The Corsair's Curse), and grant-funded development of artistic experiences.

Product overview

Innerspace VR is an award-winning immersive entertainment studio based in Paris developing VR games and experiences. Their product portfolio consists of narrative puzzle games (including the acclaimed Fisherman's Tale series and Maskmaker), free-roaming location-based installations, 360-degree documentary experiences, and musical/performance VR works. The company also develops proprietary Unreal Engine frameworks (Dollhouse for interaction design and node-based narration) tailored for narrative-driven entertainment. Their games are published on major VR platforms including Meta Quest, Steam, PlayStation VR, and Viveport, with experiences distributed through festivals, museums, and location-based entertainment venues worldwide.

Differentiator

Problem solved

Functional benefit

Products and services

• Another Fisherman's Tale Sequel narrative puzzle adventure in the Fisherman's Tale universe featuring Nina exploring her father's mysterious past through mind-bending VR puzzles with body-as-puzzle mechanics, available on PSVR2, Meta Quest 2, and PC VR.
• A Fisherman's Tale Mind-bending VR puzzle/escape game in which players control Bob, a tiny fisherman puppet, navigating recursive reality puzzles to reach a lighthouse during a storm. Approximately 120-minute narrative experience.
• Maskmaker Narrative adventure game in which players become a Maskmaker's apprentice, learning to craft magical masks to explore the mask realm and solve puzzles; approximately 300-minute gameplay experience.
• One True Path Adventure game mixing action and puzzles across fictional worlds featuring diverse visual styles, genres and gameplay, built around the mystery of gamebook author Jack Stevenson's murder.
• Spymaster Action stealth puzzle VR game in which players are elite agents at the last independent freelance spy agency, fighting against PROTUS and its worldwide surveillance system.
• The Corsair's Curse Location-based VR escape game for up to four players set aboard an enchanted galleon with haptic effects; licensed yearly to LBE operators such as Illucity and distributed via the Synthesis VR network.
• Playhead Musical VR experience originally released for Samsung Gear VR in which players conduct a musical vessel through an electronic music piece in a retro-futuristic world.
• Firebird — La Peri Narrative interactive VR experience in which players play as Prince Iskender seeking the flower of immortality in an ethereal ballet world with classical music, approximately 15 minutes long.
• Firebird — The Unfinished Musical VR experience in which players discover the secrets of a mysterious sculpture as museum curator, accompanied by Toronto Symphony Orchestra music and ballet performances, approximately 11 minutes long.
• Doctor Who: The Runaway Interactive VR experience in which players assist the Thirteenth Doctor (voiced by Jodie Whittaker) in returning an alien creature to its home planet using a sonic screwdriver.
• Kubo Walks the City Free-roaming VR installation and documentary animation directed by Hayoun Kwon exploring colonial modernity in 1930s Seoul under Japanese occupation. Won the LBE Special Jury Prize at New Images Festival and the Storyscapes Award at Tribeca Immersive 2022.
• Peach Garden Free-roaming large-scale VR installation designed for Oculus Quest based on a Korean medieval painting, distributed by Diversion Cinema for installation in 30x15m venues, approximately 20 minutes long.
• Eternal Walkers VR experience revisiting the Taoist Immortals painting by Gim Hong-do from Samsung Leeum Museum, in which visitors travel through scenes moving forward and backward in time alongside the eternal walkers.
• The Guardians of Jade Mountain VR experience exploring the unlikely friendship between Chief Aliman of Taiwan's Bunun clan and Japanese anthropologist Ushinosuke Mori during Japanese occupation, inspired by Taiwanese shadow theater, approximately 18 minutes long.
• The Forgotten War 30-minute VR experience bringing Korean War's lost voices to light through French Battalion soldiers' testimonies, focusing on the Battle of Jipyeong-ri.
• Xth Attempt Location-based VR and live performance hybrid experience directed by Hayoun Kwon in which imaginary machines create fireflies for dancing, exploring the conditions where virtual reality becomes reality.
• Spellbound Musical immersive installation featuring geometric shapes in a laboratory petri dish that react to electro dance music, taking visitors on a journey through the music's organism.
• Gauguin's Inner Journey Immersive VR journey into Paul Gauguin's imagination produced for the Grand Palais exhibition, featuring a ballet of colors recreating works such as Joyeusetés and The Woman with the Flower.
• The Fifth Sleep VR journey inside the brain inspired by Fantastic Voyage, featuring the nanorobotic camera Proteus navigating through biological landscapes at a microscopic level, approximately 5 minutes long.
• The Cave VR discovery of prehistoric cave drawings in France's Valley of Vézère from 30,000 BP, featuring a poetic journey through glacial age landscapes culminating in supernatural revelations, approximately 4 minutes long.
• Forbidden City 360-degree VR journey through the Chinese imperial palace from the Ming to Qing dynasty, exploring 980 buildings across 72 hectares in Beijing, approximately 3 minutes long.
• Fisherman: The Storm 360-degree prequel to A Fisherman's Tale following Bob the retired fisherman before the events of the main game, discovering he is a wooden puppet trapped in his own model.

Named customers4 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

13 partnerships are on record, tiered core, major and minor.

• Vertigo GamescoreChannel Partner/ Reseller/ DistributorOngoing publishing partnership for VR games. Vertigo Games publishes Another Fisherman's Tale and is a key distribution partner. Studio has worked with Vertigo on multiple projects and renewed partnership for new development.
• MWM Interactive (Madison Wells Media)coreChannel Partner/ Reseller/ DistributorPublishing partnership for Maskmaker, providing publishing support and helping achieve vision for the game. MWM Interactive is dedicated to supporting the studio throughout the process.
• Facebook/OculuscoreStrategic or Co-development PartnerLongstanding cooperation with Oculus/Facebook including developer kits, platform support, and co-production on projects like Peach Garden and Firebird - The Unfinished.
• Diversion CinemamajorChannel Partner/ Reseller/ DistributorDistribution partner for location-based VR installations including Peach Garden. Partnered for deploying free-roam large-scale VR experiences.
• BBC VR HubmajorStrategic or Co-development PartnerCommissioned work for Doctor Who: The Runaway experience. Produced in collaboration with Passion Pictures for BBC's VR Hub.
• Passion PicturesmajorStrategic or Co-development PartnerCollaboration on Doctor Who: The Runaway VR experience. Passion Pictures led production with Innerspace developing the experience.
• Synthesis VRminorChannel Partner/ Reseller/ DistributorLBVR distribution network for The Corsair's Curse and One True Path location-based experiences.
• IllucityminorChannel Partner/ Reseller/ DistributorLBVR operator for The Corsair's Curse deployment in France and Belgium VR parks.
• Arte FrancemajorStrategic or Co-development PartnerCoproduction partner for Gauguin's Inner Journey and Fisherman: The Storm experiences.
• Il Min Museum (Korea)minorStrategic or Co-development PartnerPartner for Kubo Walks the City experience development.
• Samsung Leeum Museum (Seoul)minorStrategic or Co-development PartnerPartner for Eternal Walkers experience based on the Taoist Immortals painting in their collection.
• Paris & Co IncubatorminorOthersStudio located as part of Paris & Co incubator program with offices in north of Paris.
• Toronto Symphony OrchestraminorStrategic or Co-development PartnerProvided beautiful rendition of Gustav Holst's The Planets for Firebird - The Unfinished experience.

Scale indicators3 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Polyarc: Polyarc is the Seattle-based studio behind Moss and Moss: Book II — narrative-driven VR puzzle games with strong critical reception. Closely comparable to Innerspace in narrative-puzzle focus, indie scale, and award-winning positioning, though Polyarc operates at slightly larger scale.
• Resolution Games: Resolution Games is a Stockholm-based VR-focused studio (Angry Birds VR, Demeo, Cook-Out) operating across multiple VR platforms. Directly comparable as a multi-title independent VR studio with publisher and platform partnerships spanning Quest, Steam, and PSVR.
• Schell Games: Schell Games (Pittsburgh) develops narrative puzzle VR games including I Expect You To Die series. Comparable in narrative VR puzzle focus and studio pedigree, though significantly larger in headcount and contract/work-for-hire business mix.
• Beat Games: Czech studio behind Beat Saber, acquired by Meta in 2019. Comparable as an indie VR studio that scaled a hit title into a franchise across Quest and other platforms — illustrating both the upside potential and platform-acquisition risk for small VR studios.
• nDreams: UK-based VR specialist studio (Far Cry VR, Phantom: Covert Ops, Little Cities) with multiple VR titles across Quest, PSVR2, and PC VR. Comparable as an independent VR-first studio with multi-platform publishing footprint and proprietary VR development expertise.
• Tender Claws: Los Angeles-based VR studio (Virtual Virtual Reality, The Under Presents, Dimensional Double Shift) known for art-house narrative VR experiences. Highly comparable in indie scale, creative-first positioning, and genre-defying narrative VR titles.
• Survios: LA-based VR game studio (Creed: Rise to Glory, The Walking Dead: Saints & Sinners, Alien: Rogue Incursion) with major publisher/IP partnerships. Comparable as a multi-platform VR game developer, though larger in headcount and with major licensed IP deals.
• Owlchemy Labs: Austin-based VR studio (Job Simulator, Vacation Simulator, Cosmonious High) acquired by Google in 2017. Comparable as a multi-platform VR game developer known for polished consumer titles, though operating under Google/Alphabet ownership changes the competitive dynamic.
• Fast Travel Games: Stockholm-based VR-first studio (Cities VR, Apex Construct, Wraith: The Oblivion - Afterlife) publishing across Quest, PSVR2, and Steam. Comparable as an independent European VR studio with multi-platform narrative and simulation titles.

Broad incumbents

• Vertigo Games: Rotterdam-based VR publisher and developer (Arizona Sunshine, After the Fall) that publishes Another Fisherman's Tale for Innerspace. Comparable as both a publisher/partner and a peer VR studio, with broader publishing portfolio and larger headcount than Innerspace.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/innerspacevr
• Facebookfacebook.com/InnerspaceVR
• LinkedInlinkedin.com/company/3852498

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Innerspace