Dive Brief:
- Batbox, a baseball entertainment concept founded in Mexico, raised $7.3 million during its Series A funding round, with inventors from the U.S. and Mexico including Emerging Fund and MG partners, the company said Tuesday.
- The investment will fund the company’s plan to open over 25 locations across the U.S by 2030 with a focus on Dallas, Houston and Boston and other major league baseball markets.
- Batbox originally opened in Mexico in 2019 and currently has three locations, according to its website. It plans to open its first U.S. venue in Addison, Texas, early next year.
Dive Insight:
Batbox sees the U.S. as a major opportunity, given the sport’s long history and enduring popularity in the U.S. To-date there are not many eatertainment chains focusing on baseball, and concepts centered around the game tend to be limited to individual venues like Home Run Dugout in Katy, Texas.
"While baseball enjoys a rich history and a passionate fan base, there has been a significant gap in immersive, interactive experiences that rejuvenate the sport,” said Craig Winning, COO of Batbox.
Batbox uses Strikezon, a proprietary baseball simulator technology, to offer a realistic experience to guests, the company said. The locations will serve food and beverages and allow up to 18 players per bay with three-, six- or nine-inning games and the option to do a home-run derby or pitching contest. Its first location in Addison will have 10 baseball simulators and a 13,000-square-foot sports bar.
“Similar entertainment concepts have successfully transformed other sports by enhancing fan engagement and attracting new markets,” the company said. “Batbox aims to replicate this success in baseball by offering a similar level of innovation and engagement, leading to significant growth and market expansion.”
Many eatertainment chains have been expanding lately and attracting investor interest. There is a significant return on investment for the eatertainment chains with Pinstripes and Puttshack sustaining average unit volumes over $8 million.
Danny Meyer’s private investment firm, Enlightened Hospitality, invested $20 million in Five Iron Golf in March, to help accelerate growth and enhance offerings. Punch Bowl Social acquired two small eatertainment concepts, Sweet Tooth Hotel and Voicebox Karaoke, earlier this year. Pinstripes entered the public markets in early January through a special purpose acquisition company deal with Banyan Acquisition Corporation.
