Discovery Leads $10 Million Investment in L.A. VR Studio

Here Be Dragons, a Los Angeles-based studio that works in virtual, augmented and mixed reality, has raised $10 million.

Silver Spring-based Discovery Communications Inc. led the round, with additional participation from David Droga, creative chairman and founder of Droga5, and David Jones, founder of You and Mr. Jones.

Here Be Dragons will use the money to expand its team, focusing on creative services and ideation, as well as continue to develop its custom technologies.

“This investment will help to further broaden our creative and technological offerings — from creative ideation through production and post — while we continue to innovate and produce experiences that push the boundaries of what next-generation immersive storytelling is capable of,” said CEO and Managing Partner Patrick Milling-Smith in a statement.

The funding follows the startup’s premieres of new projects at the Venice (“Dispatch”), Sundance (“Tree”) and Tribeca (“The Protectors: Walk in the Ranger’s…Read the full story from the Washington Business Journal.

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