Felix & Paul Studios Secures Multi-Million Dollar Financing for its Latest Location-Based Virtual Reality (VR) Production

Felix & Paul Studios secures strategic financing 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, for its largest production to date.

MONTREAL, Feb. 13, 2024 /PRNewswire/ -- Felix & Paul Studios, the Emmy Award-winning immersive entertainment pioneer, today announced that it has secured financing for its most ambitious project yet, a location-based VR (LBVR) experience based on a brand-new IP set to launch in 2025. With financial backing 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, the Studio is charting a new course in the entertainment and extended reality (XR) industries.

"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."

Over the past decade, Felix & Paul Studios has not only garnered acclaim for its innovative VR productions, such as the EMMY Award-winning Space Explorers series,  but has also laid the groundwork for the evolution of LBVR with Space Explorers: THE INFINITE *, which attracts hundreds of thousands of spectators every year as it tours North America with plans to expand to Europe, Asia, and the Middle East.

This round of top-tier financing showcases a strong vote of confidence in the Studio's vision and its potential to reimagine the entertainment landscape.

“We are pleased to support Felix & Paul Studios, a leading creator of immersive entertainment, as they take on their largest location-based VR project to date and continue to expand into international markets,” said Guillermo Freire, Senior Vice-President, Mid-Market Group at EDC. “Mid market companies like Felix & Paul Studios are a testament to the innovative spirit and strength of Canada’s digital industries and are a catalyst for the growth of our foreign trade. EDC’s financing will help further boost their competitiveness and deliver on their ambitious growth plans.”

* Space Explorers: THE INFINITE is an Infinity Experiences production created by Felix & Paul Studios and PHI Studio.

ABOUT FELIX & PAUL STUDIOS
As a trailblazer in the field of immersive entertainment, Felix & Paul Studios has established itself as a leader and pioneer in creating and producing groundbreaking virtual, augmented, and mixed reality experiences that captivate audiences across the globe. The studio's commitment to innovation is rooted in the belief that technology has the power to drive new forms of artistic expression and transform storytelling into storyliving.

Its award-winning portfolio includes the first ever cinematic VR experience, Strangers with Patrick Watson; Space Explorers: The ISS Experience, the Emmy Award-winning series that inspired Space Explorers: THE INFINITE; as well as collaborations with industry leaders and visionaries such as Cirque du Soleil, Universal Studios, and the Obamas.
For more information: Felix and Paul Studios website, Space Explorers website, Facebook, Instagram, LinkedIn, Twitter, YouTube

SOURCE Felix & Paul Studios