Montreal-based Felix & Paul Studios has raised USD$6.8 million (CAD $8.7 million) in a Series A round of funding, led by investment from Comcast Ventures.
Caisse de dépôt et placement du Québec, China-based LDV Partners and existing investor Phi Group also participated.
The VR studio, which last year partnered with Oculus to create seven VR projects for the platform, says it will use the investment to grow its team, enhance its technology, and produce more content.
“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,” said Stéphane Rituit, co-founder, president and executive producer at Felix & Paul Studios, in a statement.
The company also announced that, in conjunction with its investment, Comcast managing director Michael Yang will join Felix & Paul’s board of directors.
Launched in 2013, Felix & Paul Studios has grown from a team of three to 37 , with offices in Montreal and Los Angeles.