Reload Studios Receives Additional $4 Million Funding [UPDATED]
Reload Studios, California based developers of the highly anticipated World War Toons, has announced that it has successfully closed its first round of funding with a total of $4 million (USD). Following the previously announced lead investment, the studio has raised an additional $1.5M from private investors and numbers of VC fundraisers.
World War Toons, the first title revealed by the studio, is geared to be one of the launch titles for the upcoming PC and console virtual reality (VR) platforms, with both Oculus Rift and PlayStation VR versions already made available to demo at several events. VRFocus has been hands-on with World War Toons on many occasions, stating in one preview that the team, “simply can’t wait for the opportunity to engage in it’s multiplayer mayhem once more.”
Reload Studios also recently announced an expansion into the non-gaming side of the VR industry by forming their own VR Lab. A strategic partnership with WoofbertVR, an arts education VR company which creates interactive VR museum experiences, lead to a premiere last month at IFA in Berlin as a part of Samsung’s VR showcase. Reload Studios’ VR Lab plans on expanding into education, military, automotive, film and other areas of the VR landscape.
Reload Studios has now received funding based on these ventures from several firms, including Rothenberg Ventures, World Innovation Lab, Barunsen E&M and, most recently, YK CRCM RS LLC. Speaking of the investment, Chun Ding, General Partner at YK CRCM RS LLC, states: “We applaud the talented team at Reload Studios for what they have accomplished and are thrilled to partner with them to bring the best of these contents to the consumers.”
“Now the foundation is set,” adds James Chung, Reload Studios’ founder and CEO. “Gaining partners who believed in the future of VR is like gaining a huge army for the battle. We are ready to take on the whole world of VR.”
Reload studios celebrated its first anniversary in July 2015, expanding to 28 team members over the first year. VRFocus has previously reported in the studio’s intention to expand beyond gaming in VR and will keep you updated with all the latest details on this effort and World War Toons.
UPDATE: Following the publication of this article Reload Studios has contacted VRFocus to clarify this this round of funding brings the total the studio has received to $4M USD, opposed to an additional $4M. VRFocus apologises for the error.