Virtual Reality Studio Felix & Paul Closes $6.8 Million Funding Round Led By Comcast Ventures

Montreal-based Felix & Paul Studios, a virtual reality outfit that also creates proprietary camera systems and post-production software, has announced a $6.8 million funding round led by Comcast Ventures — the venture capital arm of the media goliath. Other participants in the funding round included Caisse de dépôt et placement du Québec, LDV Partners, and prior investor Phi Group.

Felix & Paul, which says its mission is to “create extremely high quality VR experiences that strike an emotional chord” — including a recent LeBron James documentary for the Samsung Gear VR —  will allocate new funds to growing its team and production capacities, enhancing its proprietary VR cameras, improving its production and post-production software suite, and expanding distribution of its content to additional platforms and international markets, the company said.

“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 co-founder, president, and executive producer Stéphane Rituit

“[Felix & Paul] has produced the best VR content for the Oculus Rift and Samsung Gear VR for three years now,” added Michael Yang, managing director at Comcast Ventures. “We were attracted to their artistic vision, their track record with viewers, and their full technology stack.” As part of the investment, Yang will join Felix & Paul’s board of directors.

Felix & Paul currently counts 37 employees within its offices in Montreal and Los Angeles. Having produced seven VR projects last year, the company says it has a total of more than 30 in the pipeline for 2016. Helmed by Emmy-winning directors Félix Lajeunesse and Paul Raphaël, the company has also collaborated on VR projects with big-name films and franchises including Jurassic World, Cirque du Soleil, and Wild.