Startup Building Theaters for Sports Valued at Over $1 Billion

Cosm، a company that builds giant theaters for watching sports، raised $250 million from a group that includes billionaires Steve Winn، David Blitzer، Marc Lasry and Dan Gilbert.

The funding pushes the firm’s valuation to more than $1 billion، according to Jeb Terry، Cosm’s chief executive officer.

Lasry، who invested through his Avenue Sports Fund، said he was sold on Cosm after attending an event.

“I don’t really get excited about a lot of things، but I was surprised at the technology، and how it felt like you were in the game while watching it،” said Lasry، who previously owned a stake in the NBA’s Milwaukee Bucks.

Cosm، founded in 2020، has one venue in Los Angeles that spans 65،000-square-feet and seats 1،700 guests. It features a giant domed screen that’s more than 80 feet long. Through partnerships with professional leagues and TV networks، the location shows sports spanning NBA games and UFC fights to horse racing. Cosm’s programming also includes arts and entertainment experiences such as Cirque du Soleil.

Winn، who serves as Cosm’s chairman، said the company’s goal is to open 50 locations by the end of the decade. Venues in Dallas and Atlanta are in the works. Additional markets that are being scouted for expansion include New York، Miami and Las Vegas.

“Our first objective is to get into as many different locations as we can، the big ones are important،” Winn said. “We also want to look at European markets and in the Middle East، too.”