Baobab Studios raises $25M as it looks to bring richer storytelling to VR
October 28, 2016
For all of the technical pizazz that virtual reality studios can wow users with, at the end of the day great content is about establishing an emotional connection.
Baobab Studios is aiming to move past the novelty of VR and create characters that people can grow to love (and hate) even more due to the richness of experience and interaction that VR offers.
Today, the company announced that it has closed a $25 million Series B led by Horizons Ventures with Twentieth Century Fox, Evolution Media Partners, China’s Shanghai Media Group, Youku Global Media Fund and LDV Partners also participating. This raise brings the company’s total funding to $31 million.
This Series B is one of the largest single funding rounds for a virtual reality creative studio to date. Co-founder and CEO Maureen Fan says that much of the startup’s success has been earned because of continued traction on nascent virtual reality platforms alongside an ingrained focus on storytelling that eases many of Hollywood’s fears about the VR platform.