Editor | Oct 14, 2017 | 0
Felix & Paul raises $6.8m funding for expansion
Felix & Paul Studios, the Emmy Award-winning studio behind top cinematic virtual reality experiences, has closed $6.8 million of Series A funding. The round was led by Comcast Ventures, with Caisse de dépôt et placement du Québec, LDV Partners, and existing investor Phi Group also participating.
“At Felix & Paul Studios, our mission is to create extremely high quality VR experiences that strike an emotional chord in viewers,” said Stéphane Rituit, co-founder, president and executive producer at Felix & Paul Studios.
“This round of funding, led by the venture arm of one of the largest media and entertainment companies in the world, not only speaks to the power of our model but also points to a massive need for high quality VR content across the media landscape. We are excited to use this new capital to accelerate our goal of building a global VR studio– known for producing the highest caliber of immersive and engaging VR experiences for everyone to enjoy.”
The studio will use the investment to grow its team and production capacity for its content pipeline; enhance its proprietary VR cameras; and expand its state of the art, production and post-production software suite. Additionally, the studio will expand distribution of its virtual reality experiences and apps to more platforms and international markets.
“Felix & Paul Studios is the trailblazer in cinematic virtual reality as they have produced the best VR content for the Oculus Rift and Samsung Gear VR for 3 years now,” said Michael Yang, managing director at Comcast Ventures. “Their stories have touched audiences all over the world and their pieces are award winning. We were attracted to their artistic vision, their track record with viewers, and their full technology stack.”
Over the past year, Felix & Paul Studios has experienced tremendous growth and currently numbers 37 highly talented VR specialists across offices in Montreal and Los Angeles. Last year, the studio produced seven extremely high quality VR experiences for the Oculus platform across Rift and Gear VR. This year the company already has over 30 projects in the pipeline in various stages of development.
“Felix & Paul are incredibly talented filmmakers that have been pioneering VR since the earliest Oculus dev kits,” says Jason Rubin, Head of Content at Oculus. “They’ve continued to push the boundaries of cinematic VR and are instrumental in the growth of the medium. I can’t wait to see what they’ll do next!”
In conjunction with the round of funding, Michael Yang, Managing Director of Comcast Ventures, will join the Felix & Paul Studios board of directors.