×
You will be redirected back to your article in seconds

Comcast Leads $6.8 Million Funding in VR Studio Felix & Paul

Comcast is making another bet on virtual reality: The cable and media giant is the lead investor in VR studio Felix & Paul Studios’ $6.8 million round of Series A funding.

The round was led by Comcast Ventures, with participation from Caisse de dépôt et placement du Québec, LDV Partners, and existing investor Phi Group. Felix & Paul has raised $9.1 million to date; the company is not disclosing its valuation.

Comcast Ventures has previously invested in Spaces, an L.A. startup developing virtual-reality and mixed-reality experiences founded by former DreamWorks Animation execs, and AltspaceVR, a startup building social spaces in VR.

“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,” 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.”

Felix & Paul’s VR productions include cinematic experiences “Nomads” and “Strangers” and virtual-reality projects in collaborations with existing franchises — including “Jurassic World,” Cirque du Soleil and “Wild” — and celebrities like Bill Clinton and LeBron James.

F&P said it will use the investment to grow its team and production capacity for its content pipeline; enhance its proprietary VR cameras; and expand its production and post-production software suite. Additionally, the studio will expand distribution of its VR experiences and apps to more platforms and international markets.

“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,” Stéphane Rituit, co-founder, president and executive producer at Felix & Paul, said in a statement.

Launched in 2014, Felix & Paul Studios employs 37 VR specialists, based at its Montreal headquarters and in Los Angeles. Last year, the studio produced seven VR experiences for Facebook’s Oculus platform across Rift and Samsung Gear VR. The company says it currently has over 30 projects in various stages of development.

“Felix & Paul are incredibly talented filmmakers that have been pioneering VR since the earliest Oculus dev kits,” said Jason Rubin, head of content at Facebook’s 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 funding, Comcast Ventures’ Yang will join the Felix & Paul Studios board.

More Digital

  • Love Nature Teams with Arte, BBC,

    Love Nature Teams with Arte, BBC, Smithsonian on Natural History Series ‘Stormborn’

    Love Nature has greenlit “Stormborn,” a wildlife series about animals living in the wildlands of countries on the edge of the North Atlantic. The three-parter will bow on Love Nature’s 4K linear channel and streaming service and then play on Arte in France and Germany, BBC Scotland and Smithsonian Channel. Love Nature is the natural [...]

  • john-farrar-joins-barcroft

    Barcroft Studios Hires John Farrar as Creative Director, Ups Two Execs (EXCLUSIVE)

    John Farrar, whose credits include “The Imposter,” has joined U.K. producer and digital content specialist Barcroft Studios. The company has also upped two senior staffers, with Alex Morris elevated to chief creative officer and Caspar Norman to chief operating officer. The new recruit joins Barcroft from Nerd TV, the U.K. shingle he co-founded with Jago [...]

  • Mubi Streaming Service Launches in South

    Mubi Streaming Service Launches in South East Asia (EXCLUSIVE)

    Film specialist streaming platform, Mubi is to launch in South East Asia. The service kicks off with operation in Malaysia, and has plans to quickly scale up in another half dozen territories in the fast-developing region. Mubi will retain its highly curated approach of offering one new film title per day and retaining each for [...]

  • A trading post sports the Spotify

    Spotify Determines That It Overpaid Publishers in 2018, Requests Refund

    When calculating the new, higher rates determined by the U.S Copyright Royalty Board — which Spotify, Amazon, Google and SiriusXM/Pandora have appealed — Spotify has determined that it overpaid publishers in 2018 and would like a refund. “According to the new CRB regulations, we overpaid most publishers in 2018,” a Spotify spokeperson said. “While the [...]

  • harry potter wizards unite

    'Harry Potter: Wizards Unite' Off to Slower Start Than 'Pokemon Go'

    Niantic’s new location-based augmented reality game “Harry Potter: Wizards Unite” is off to a solid start — but it doesn’t seem to have quite the same momentum as “Pokemon Go” did when it launched 3 years ago. That’s according to initial estimates from app analytics specialist Sensor Tower. “Harry Potter: Wizards Unite” first became available [...]

  • Netflix Is Testing a Pop-out Player

    Netflix Is Testing a Pop-out Player for Desktop Viewing

    Office workers rejoice: Netflix is looking at ways to make it even easier to sneak in a little of your favorite shows while you are waiting for that email response that is holding everything up. The company is currently testing a pop-out player as part of its web interface. PSA!!!!! NETFLIX FINALLY HAS A POP-OUT [...]

  • iQIYI Launches World’s First Professional Interactive

    iQIYI Makes Strides in Interactive Video

    Chinese video streaming giant iQIYI is making strides in the interactive sector. It is launching China’s first interactive work after issuing a set of guidelines intended to standardize the creation of such content last month, the company said Friday. “His Smile” is the first such piece of interactive film and TV content to hit the [...]

More From Our Brands

Access exclusive content