Friday, June 10, 2016

Creators Of The Martian VR Build First Great VR Content Studio

The Virtual Reality Company (VRC) recently raised $23 million as part of a large equity-financing round. The funds will be used toward producing original virtual reality content and positioning VRC as the premier VR storyteller and industry leader. 
Founded and managed by two-time Academy Award-winning director Robert Stromberg and entertainment industry executive Guy Primus, VRC is a producer of first-class VR content, including the critically-acclaimed tentpole VR experience, The Martian VR, a 20-minute interactive and fully immersive journey created for the 20th Century Fox Innovation Lab.
Robert Stromberg - The Virtual Reality Company
"VR is no longer just a dream of visionaries," stated Robert Stromberg, VRC co-founder and Chief Creative Officer. "Leaders across a number of industries, who months ago dismissed VR as a passing fad, are racing to participate in this rapidly evolving landscape. The assurance of VR's longevity has never been more evident than it is today."
"The limitless potential of the technology has enabled us to unlock characters, dreamscapes and adventures that for decades have been captive thoughts of my imagination. We cannot wait to share these experiences with the world," explained Stromberg.
VRC already has several notable projects on its slate, including an original family-oriented VR program created with VRC advisor and shareholder, Steven Spielberg.
The timing of the investment is advantageous to VRC's team of artists, storytellers and technicians, who are now able to execute exclusively on their creative ambition. The team is focused on delivering original, cinematic, story-driven experiences that will forever shape the marketplace and define VRC as a first-rate VR content studio and premium story-telling household brand.
The equity investment made by Hengxin Mobile Business Co., Ltd., a Beijing-based mobile services and technology provider, was a strategic decision, securing for VRC a platform for the distribution of its content in the greater China region. 
"This recent injection of capital allows us to discover new creative territories and stake our claim in this exciting frontier," said Stromberg.
Guy Primus - The Virtual Reality Company
Investors in VRC also include Metallica lead singer James Hetfield, Rothenberg Ventures, and Elementum Ventures. "We were approached by dozens of investors, but ultimately chose to accept investment from Hengxin because of the complementary nature of its operations," stated VRC CEO and co-founder, Guy Primus. "Hengxin opens up the world's most populous country to us in ways that few western companies will be able to match."
In addition to its in-house creative and VR technical teams, VRC has a significant competitive advantage in the creation of VR experiences through its partnership with Hollywood pre-visualization studio, The Third Floor, which is led by another VRC co-founder, Christopher Edwards. The alliance uniquely positions VRC to benefit from the pipelines used by TTF to prototype through previs the majority of Hollywood's blockbuster films.

Large Investments in VR in Q1 2016 

Data from VBProfiles shows that last quarter saw the largest amount of investments in the VR landscape in the last five quarters. Compared to the same period of time last year, the budding industry has seen four additional investments and almost $588M more in funding — an increase of over 120 percent. 

While the total number of investments has decreased, with only 19 investments in Q1 2016 as compared a high of 32 in Q2 2015, the total amount of funding has skyrocketed, with more than $1 billion invested — mostly in Magic Leap and MindMaze. 

With the current financing for The VRC, the yellow brick road to the Internet Of Experiences just got a little brighter and shinier!

Source for The VRC material: PRNewswire

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