Big media’s excitement about the potential of virtual reality (VR) was demonstrated again today with the announcement that Comcast Ventures led a $6.8 series a financing round in Felix & Paul Studios, a Montreal-based VR production company that has collaborated on projects with media franchises such as Cirque due Soleil and “Jurassic World” and high profile personalities including President Bill Clinton and NBA star LeBron James.
Caisse de dépôt et placement du Québec, LDV Partners, and existing investor Phi Group also participated in the round.
Led by Emmy Award-winning directors Félix Lajeunesse and Paul Raphaël, Felix & Paul Studios currently has 37 employees divided between its offices Montreal and Los Angeles. Last year, the studio produced seven VR experiences for the Oculus platform across Rift and Gear VR, including “Nomads” and “Strangers,” and it currently has more than 30 projects in various stages of development.
The studio will use the investment to expand its team and the production capacity for its content pipeline, enhance its proprietary VR cameras, and expand its production and post-production software suite. It also plans to expand distribution of its virtual reality experiences and apps to additional 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 three years now,” Michael Yang, managing director at Comcast Ventures, said in a statement. “We were attracted to their artistic vision, their track record with viewers, and their full technology stack.”
Comcast Ventures has made investments in several other VR companies, including Spaces, founded by DreamWorks Animation vets, and AltspaceVR, a virtual reality social space.
In conjunction with the funding, Yang will be joining the Felix & Paul Studios board.