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Felix & Paul Studios, the Emmy Award-winning XR studio, announced it has secured funding for its next location-based VR (LBVR) experience based on what it says will be a brand-new IP.

The studio hasn’t released the exact figure of the financial backing, however says it was a “multi-million dollar” amount which came 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.

Felix & Paul have been pioneers in the VR space since the release of early 360 films Strangers and Zarkana. Founded by Félix Lajeunesse and Paul Raphaël in 2013, the studio is known for original immersive film productions such as the Emmy Award-winning The Space Explorers series, Traveling While Black, Jurassic World: Blue, Cirque du Soleil, and immersive videos for Fox Searchlight’s Wild and Isle of Dogs.

The yet unnamed LBVR experience, which is set to launch in 2025, is being couched as the studio’s “most ambitious project yet.”

“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.”

Space Explorers: THE INFINITE, the studio’s most recent location-based VR experience was created by Felix & Paul and Quebec-based PHI Studio. The experience lets multiple users explore the International Space Station, see the Earth from above, and view other 360-degree videos as you experience the life as an astronaut in low Earth orbit.

Showings are currently available in Vancouver and Denver, with an additional showing planned to come to Houston in May.

https://youtu.be/GALxf74vScA