VR developer Survios has raised a total of $50 million in investments across two recent rounds of funding, the company announced today.
$50 million is a significant amount of funding for any single developer to obtain, and it just might be the most we’ve seen raised by a VR-focused studio to-date. It’s also worth noting that a big chunk of the money came from MGM: a company that typically operates in film and TV.
With the backing of new investors, Survios has announced plans to branch out into game publishing to support both third-party titles and new VR games created by the developer itself.
Additionally. Survios aims to expand the universe of their previous game, Raw Data, and potentially open the game up to cross-platform play. Raw Data launched earlier this year for the Vive and quickly saw success by becoming the first VR title to both top Steam sales charts and to earn $1 million in its first month.
In a press release announcing the funding, MGM CEO Gary Barber explained that VR-based partnerships like the one forged between MGM and Survios offer an “innovative ways to optimize our existing IP, create exciting new content, and expand into emerging platforms.”
More and more film studios seem to be stepping into the virtual reality ring. Earlier this year IMAX partnered with Acer to establish a fund to finance VR experiences. IMAX’s total investment, which is the same as the amount raised by Survios alone, intends to fund at least 25 games.