Survios Gets $50M Fund, Grabs MGM’s Gary Barber

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Survios Gets $50M Fund, Grabs MGM’s Gary Barber
December 13, 2016

MGM just deepened its involvement with virtual reality by leading a $50 million funding for VR studioSurvios. As part of the arrangement, MGM chief Gary Barber will join Survios’ board.

 

The company, founded in 2013, mostly produces lifelike VR games including “Raw Data.” Some industry watchers deemed the first-person shooter title the first hit VR game after it generated $1 million in one month after going on sale in July.

 

Survios will use the new cash infusion to support cross-platform play for the game. In addition, it will add titles and distribute overseas.

 

MGM’s support “puts us in a position to achieve our goal of becoming the leading publisher and content creator in Virtual Reality.” Survios CEO and Co-Founder Nathan Burba says.

 

Lux Capital led a 2014 funding round that raised about $4 million. Others that participated in that round include Shasta Ventures, Danhua Capital, Shanda Holdings, Felicis Ventures and Dentsu Ventures.

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