Comcast Venture Splashes More Cash on VR

Leads $6.8M ‘A’ round in Felix & Paul Studios
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Adding to its investments in the emerging virtual reality sector, Comcast Ventures has led a $6.8 million “A” round in Felix & Paul Studios.

Caisse de dépôt et placement du Québec, LDV Partners, and Phi Group also participated in the round, which was announced earlier this week.

Comcast Ventures’ financial backing of Felix & Paul Studios follows recent investments other VR-facing startups that include Spaces, Baobab Studios, NextVR and AltSpaceVR. Comcast Ventures was also part of a group behind a $50 million “B” round in Meta, an augmented reality (AR) startup founded in 2012.

Felix & Paul Studios is focused on storytelling through cinematic virtual reality, and have developed a “full-stack” VR platform that includes proprietary 3D 360-degree camera systems and a post-production software and process. It has already developed originals such as Nomads and Strangers, worked with existing franchises (Jurassic World, Cirque du Soleil and Wild, among them), as well as individuals such as Bill Clinton and LeBron James.

“We have always wanted to invest in a team focused on premium cinematic virtual reality or live action, camera-shot, stereoscopic 360 video,” Michael Yang, managing director of Comcast Ventures, noted in this blog post about the investment in the Montreal-based VR studio. “Felix Lajeunesse and Paul Raphael were successful film and commercial directors before they stumbled upon Oculus in the early days. They convinced Oculus that virtual reality was not just about gaming, but could also be about immersing an audience in a new type of video experience.”

In addition to the investment, Yang is also joining the Felix & Paul Studios board of directors.

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