Having announced an $8.5 million seed investment back in March 2016, VR animation firm Penrose Studios is adding another $10 million to the pile for its Series A investment.
Led by TransLink Capital, the round also saw participation by SalesForce founder and CEO Marc Benioff, artist will.i.am, Korea Telecom, Co-Made, Sway Ventures, 8VC, and Suffolk Equity. The investment brings the company’s total fundraising to some $18.5 million.
Penrose says the investment will be used to grow the company and continue production of VR content and specialized tools for building VR films better and faster. While Penrose hasn’t yet revealed any AR content, the investment announcement hints that the studio is also looking in that direction.
The studio’s debut film was The Rose and I (April 2016), which was quickly followed up by Allumette (October 2016); both of which have received generally good marks from reviewers on Steam and Oculus.
The studio’s latest work is Arden’s Wake. Though not yet available to the public, two chapters have already been shown: The Prologue and Tide’s Fall.