Penrose Studios nabs $10M as the startup continues to create some of VR’s most beautiful stories – TechCrunch

It's been an interesting previous few years for the virtual reality industry and while there is still plenty for insiders to pin their hopes on in 2018, it's clear that things have been advancing a bit slower than more bullish celebrations would have expected. Yet for all exactly what potential still remains unfulfilled, it seems fair to say that writers are still just as entranced (and sometimes baffled) by the power of the fully immersive medium.Penrose Studios

$8.5 M, VR's biggest seed round While some competing venture-backed virtual

truth material studios might be focusing their efforts on developing streamlined procedures to build quick and inexpensive stories, Penrose seems more directly focused on reaching its imaginative visions initially and foremost.The company's latest major task, Arden's Wake, is among the more fascinating VR short movies I've seen to date. The ambitious half-hour animated feature sets a tightly scoped story with an extremely refined style that is whimsical and wonderful in such a way couple of other studios have handled to find out. The start-up began advancement of Arden's Wake 18 months earlier, sharing the finished product, which features voice acting from Alicia Vikander, at the most current Tribeca Film Festival.The movie certainly seems like a costly endeavor, and while CEO Eugene Chung didn't talk numbers, he also didn't verify whether the start-up would be charging users to download the film and view on house VR devices. The company's previous releases, "Allumette"and "The Rose and I,"are currently offered as complimentary downloads on major VR platforms.Overall headset numbers are still fairly low however, and for venture-backed start-ups in this area I would imagine that there's a strong desire to wait up until there's a more substantial audience size prior to cutting access off to the potential brand-new fans who would not pay to download anyhow. While the unit economics of making money from private downloads of narrative-based titles is still a bit of a Wild West in the VR world, it's an important concern that can probably only be punted for so long.Chung, who previously dealt with narrative storytelling at Oculus, seems positive about virtual truth hardware's near-term prospects and the increase of so-called standalone headsets which integrate the compute power, display screen and battery into a particular gadget that is untethered and more effective than previous phone-based options.The next of four new projects that Penrose is presently establishing is being built with these standalone devices as their central focus though Chung tells me the startup is likewise beginning to look more seriously about exactly what there is to be finished with phone-based augmented truth systems based on the ARKit and ARCore platforms and exactly what does and does not make sense to give them in the future.

Source

https://techcrunch.com/2018/07/11/penrose-studios-nabs-10m-as-the-startup-continues-to-create-some-of-vrs-most-beautiful-stories/