Finance

Discovery Invests in Here Be Dragons

Leads $10M A round in studio focused on VR, AR and mixed reality 8/09/2017 10:27 AM Eastern

Here Be Dragons, a studio focused on virtual reality, augmented reality and mixed reality, said it has closed a $10 million A round led by Discovery Communications.

The round also included participation from David Droga, creative chairman and founder of Droga5, and David Jones, founder of You & Mr. Jones.

Related: VR Evolution Continues at Fox Sports

Here Be Dragons said it will use the funds to invest in creative services and “ideation” for VR, AR and MR. The A-round comes on the heels of project premieres from Here Be Dragons such as Dispatch at the Venice Film Festival, Tree at the Sundance Film Festival, The Protectors: Walk in the Ranger’s Shoes with Kathryn Bigelow,  and Sessions: The Legion Mixed Reality Experience at Comic Con for FX Networks, among others.

Linked to the funding, Rebecca Howard, SVP emerging platforms and partnerships at Discovery, has joined the Here Be Dragons board.

Discovery launched its own VR-focused unit almost two years ago.  

Related: AltspaceVR Shutting Down

Here Be Dragons, which was also involved in USA Network’s The Mr. Robot Virtual Reality Experience, was co-founded by producer Patrick Milling-Smith and director Chris Milk.

“Discovery and Here Be Dragons share a passion for creating thrilling, cutting-edge content that takes viewers places they never thought possible,” Karen Leever, executive vice president and general manager at Discovery Digital, said in a statement.

Want to read more stories like this?
Get our Free Newsletter Here!