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Spire Animation Studios announced that they have raised a round of funding from Singapore-based global investment firm Temasek and investment firm Ericsenz.
Arrow said the round will help him expand his efforts to create new types of movies with game engine tools and create metaverse experiences. The amount of the round has not been revealed, but Spire has now raised over $ 40 million to date.
The new funding complements Spire’s previous funding led by Epic Games with existing investor Connect Ventures, an investment partnership formed by Creative Artists Agency (CAA) and New Enterprise Associates (NEA).
The investment allows Spire to continue to develop the team, tools, real-time pipeline and cloud-centric infrastructure needed to produce the highest quality animated films with stronger collaboration and greater efficiency. The next-generation film studio will simultaneously create worlds and experiences for the Metaverse through Epic’s Unreal Engine.
Spire plans to produce high-quality animated films with metaverse potential. The studio will also create immersive worlds designed for interactive platforms that build on their existing stories and allow fans to interact authentically.
The studio’s real-time pipeline developed using Epic’s Unreal Engine is at the heart of these never-before-seen experiences for the Metaverse and other interactive mediums, including gaming, virtual reality, and augmented reality.
“The addition of Temasek to our existing set of exceptional partners – Epic Games, CAA and NEA – will help us realize our vision of bridging premium linear and nonlinear animated content.” Spire CEO PJ Gunsagar said in a statement. “A cornerstone of this new model is meta-distribution, which allows audiences to interact with the characters and stories of our films before, during and after release. We couldn’t be more excited about this potential.
Spire’s first animated film to exploit this innovative technology and distribution model is Trouble, in partnership with Danny McBride’s Rough House Pictures. The film is scheduled for release in 2024.
Spire now has over 90 people. When asked why Temasek was an ideal investor, Spire said it was due to the ability and willingness of him as a mega-fund to financially support Spire as it grows. It also offers Spire access to partners in Asia, particularly in the area of immersive technologies. And Temasek has a long-term investment window and a history of supporting disruptive companies globally.
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