LONDON — Warp X, a low-budget digital film studio backed by the U.K. Film Council and FilmFour, will open for business March 23.

The venture, founded by producers Mark Herbert and Robin Gutch, has hired Barry Ryan as head of production, Caroline Cooper-Charles as head of creative development and Mary Burke as development producer.

Warp X has $8 million in funding to make seven pics over the next three years using state-of-the-art digital technologies. It has a distribution alliance with Optimum Releasing, which means the org will be able to offer emerging filmmakers a one-stop shop for development, production and distribution.

Based in Sheffield, the venture is an offshoot of Herbert’s Warp Films, which produced Shane Meadows’ feature “Dead Man’s Shoes.” It will have satellite offices in London and Nottingham.

“Warp X wants movies that can be made faster, leaner, lighter — with no excess baggage,” Herbert and Gutch said in a statement.

Warp X promises a more generous reward structure for talent than the U.K. norm, with cast, crew and producers working for low upfront fees but first-dollar-gross participation.

The experimental digital film studio has $5.2 million in funding from the U.K. Film Council’s New Cinema Fund and FilmFour, and $2.6 million from regional agencies Screen Yorkshire and East Midlands Media.