Quixel Raises £2.2 Million in Funding

GP Bullhound, the Manchester-based tech investment firm, and Back in Black, a Swedish venture capital firm, have invested £2.2 million in Quixel. Quixel is a rather young company, however, it has become the world’s fastest growing library of scanned 3D objects and materials with its Megascans product. It was founded by Teddy Bergsman (CEO) and Waqar Azim (COO) in 2011. Waqar Azim is a Computer Science graduate of National University of Computer and Emerging Sciences, Islamabad. He moved to Sweden in 2009 to pursue a Masters degree in Interactive Media Design. Both founders own the majority shares in the company as well. The company primarily develops tools for 3D artists in the video game and film industries. ALSO READ Telehealth Startup Sehat Kahani Raises $500,000 in Seed Funding Despite being new to the business, Quixel’s products have already been used in some of the most famous games and movies released to date. To mention a few notable feats of the company, Quixel’s products were used in the following projects; Moving Picture Company (MPC) used Quixel’s 3D objects to create 3D environments for Disney’s movie Jungle Book. The movie won the academy award (Oscar) for the “Best Achievement in Visual Effects”. The company’s 3D library was also used to create effects for worldwide megahits like Pacific Rim: Uprising (Double Negative) and Justice League (MPC). ALSO READ KeepTruckin Raises $50 Million to Back Further Growth in Tracking Technology Among recent projects, Quixel’s 3D objects library is being used by Capcom to create visual effects for the Monster Hunter: World game. Bluepoint Games is also using the Megascans library to generate the 3D environment for its Colossus game. Talking about the potential of the company and its founders, Joakim Dal of GP Bullhound Asset Management said; Talking about the vision of the company, Quixel’s CEO told; ALSO READ Pakistani Physician Gets $4 Million in Funding for Cutting-Edge Heart Research To tap into the market of ever-developing 3D objects, Teddy continued saying; Not a single shot in Jungle Book’s 3D cinema production was taken outside of MPC’s studio in Los Angeles, Teddy told; The funds raised by Quixel during the SEK25m round will be used to accelerate the company’s development and growth of 3D objects library. Via GP Bullhound