(Reuters) - Virtual reality game developer Survios said it raised $50 million in two financing rounds, including an investment from Hollywood film studio Metro-Goldwyn-Mayer.
Los Angeles-based Survios, which produced popular first-person shooter game “Raw Data,” said it would use the capital to grow its publishing and development platform and add more third-party titles to its slate.
The emerging virtual reality industry has seen a number of tech companies, such as Sony Corp (6758.T), Samsung Electronics Co Ltd (005930.KS) and Alphabet Inc’s (GOOGL.O) Google, invest in developing hardware and headsets but still lacks engaging content for users.
Metro-Goldwyn-Mayer (MGM) Chief Executive Gary Barber will join Survios’ board, the company said.
MGM, founded in 1924, is known for its roaring lion logo and has produced, released and controlled many of Hollywood’s best-known films, such as Ben-Hur, The Pink Panther and Rocky film series.
The San Francisco-based firm said that a prior financing round was led by Lux Capital.
Reporting by Narottam Medhora in Bengaluru; Editing by Martina D'Couto