Felix & Paul Studios has obtained a multi-million dollar financing deal for its new location-based virtual reality experience — an ambitious project based on new IP that’s set to launch in 2025.
The financial backing comes from Export Development Canada (EDC), The Bank for Canadian Entrepreneurs (BDC), the Société de développement des entreprises culturelles (SODEC), and National Bank of Canada’s Creative Industries Group, showing a strong sense of confidence in its Studios’ ability to reimagine the entertainment landscape through the ever-evolving terrain of virtual reality.
Felix & Paul Studios Explores Location-Based Virtual Reality
Location-based virtual reality is an experience in which participants wear a VR headset and can explore another place as if they were really there. But unlike cinematic VR, location-based VR is an interactive, immersive experience in which the VR environment responds to the participants’ physical environment.
Also Read: Watch Astronauts Do a Real Space Walk in Felix & Paul Studios’ Filming in Extreme Conditions (Video)
“We are proud to count on the backing of creative financial partners like EDC, BDC, SODEC, and National Bank of Canada, whose support is pivotal to our pioneering role in the immersive entertainment market,” said Stéphane Rituit, CEO of Felix & Paul Studios. “Their support strengthens our commitment to the evolution of digital entertainment. Space Explorers: THE INFINITE, has demonstrated the potential of location-based VR for both financial returns and popular appeal. As we embark on our most daring and ambitious project yet, we’re setting the pace for our Studio’s growth.”
Felix & Paul Studios is known for creating the first-ever cinematic VR experience, Strangers with Patrick Watson. It’s also known for collaborations with Cirque du Soleil, Universal Studios, and the Obamas.for innovate virtual reality productions like its Emmy-winning Space Explorers series. The Studio has also set the stage for the evolution of location-based virtual reality with its in-person experience Space Explorers: THE INFINITE, which attracts hundreds of thousands of visitors every year when it tours North America. The Studio has plans to expand the experience to Europe, Asia, and the Middle East.
Main Image: (L-R) Felix Lajeunesse and Paul Raphaël courtesy of Felix & Paul Studios
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