Immersive sports firm Cosm eyes international expansion, funding round

Cosm may be coming to a city near you — both in the U.S. and abroad.

The immersive sports-viewing technology company has built two dome venues in Los Angeles and Dallas that emulate the experience of being live at a sports stadium. The startup plans to build two more venues in Atlanta and Detroit in 2026.

Cosm CEO Jeb Terry told CNBC Sport he is already thinking about international expansion as he takes inbound phone calls from real estate developers and municipality leaders in countries around the world.

“I get calls daily from everywhere in Europe,” said Terry. “You look at calls from China, the Middle East, Japan. Australia is banging down our door. There’s an opportunity to bring these venues globally, and we’re looking to figure out what’s the best path to do that.”

Terry declined to share specifics on the cost of the company’s “shared experience” venues, which feature 87-foot-diameter LED domes and wall-to-wall screens to simulate the look and feel of being at a live game.

The company is “doing well” on its path to profitability, he said, and has thus far raised $300 million from investors including Stan Kroenke, the owner of sports teams including the National Football League’s Los Angeles Rams; Marc Lasry, the former owner of the National Basketball Association’s Milwaukee Bucks; and Dan Gilbert, owner of the NBA’s Cleveland Cavaliers.

Cosm is already thinking about another capital round, too, Terry said. How much money he will ask for will depend on the pace of construction, he said.

“We’ll be looking to raise again in the future,” Terry said. “It’s really a function of scale. How fast are we going to go? And we’re going to kind of navigate that as this year evolves.”