Discovery leads Here Be Dragons’ US$10m funding round

Discovery Communications has led a US$10 million (€8.5 million) Series A funding round raised by virtual reality content studio Here Be Dragons.

The deal values Here Be Dragons at US$55 million and sees senior vice-president of emerging platforms and partnerships at Discovery, Rebecca Howard, join the company board.

Here Be Dragons said it will use the cash to further broaden its creative and technological offering – from the ideas stage through to production and post-production work.

“With a strong presence in the entertainment industry and a reputation for being on the cutting-edge of technology, Discovery is an ideal lead for us – one that shares our vision for the future,” said Here Be Dragons CEO Patrick Milling-Smith.

Karen Leever, executive vice-president and general manager at Discovery Digital, said: “Discovery and Here Be Dragons share a passion for creating thrilling, cutting-edge content that takes viewers places they never thought possible. We look forward to what comes next from the incredibly talented team at Here Be Dragons.”

Here Be Dragons is based in Los Angeles and has offices in New York and London. Its projects to date include FX’s Legion Mixed Reality Experience, and the Ghost in the Shell VR experience in collaboration with Paramount, Oculus Studios and Rewind VR.