Madefire, developer of a moving-picture comic book app, plans to move into 3D with help from visual effects producer Framestore, which invested through its Framestore Ventures unit.
Framestore Ventures, a corporate venturing subsidiary of visual effects producer Framestore, took part in a $6.5m series B round for US-based online comic book platform Madefire yesterday.
Venture capital fund Plus Capital alongside several of the top creators in the world including led the round, which also featured True Ventures, Big Loud Capital, Anthem Ventures, actor Kevin Spacey and entertainer Drake.
Founded in 2011, Madefire is best known for an app that allows users to read comics and books on mobile devices through a ‘motion book’ tool that enables hard images to move across the screen.
The funding is being raised as Madefire moves into virtual reality-geared storytelling through its Motion Books in VR app. In addition to its financial contribution, Framestore will also develop specific content for the new app.
True Ventures led Madefire’s $1.1m seed round and did the same for a $5.2m series A round it closed in 2013 that included Anthem Venture Partners, Crosslink Ventures, Correlation Ventures and assorted angel investors.
– Photo courtesy of Madefire.
