# Penrose Studios

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/penrose-studios

- Industry: Media
- Headquarters: San Francisco, US
- Website: www.penrosestudios.com
- Total disclosed funding: $19M
- Latest round: Series A (Sep 27, 2017)
- Investors on record: 4

## About

Penrose Studios is an innovative company specializing in the development of immersive virtual reality (VR) experiences that engage users through powerful storytelling and emotional narratives.Founded in 2015 in San Francisco, US, Penrose Studios creates immersive VR content emphasizing universal human themes. The company was co-founded by Eugene Chung and Jimmy Maidens. It raised USD 0.92 million in a Series A funding round on December 13, 2017, bringing its total amount raised to USD 0.92 million and its current valuation to USD 39.14 million.Penrose Studios specializes in creating immersive virtual reality (VR) experiences that push the boundaries of frontier technologies. The company's flagship products, including "Arden’s Wake" and "Allumette," are designed to engage users through storytelling that explores universal human themes such as family, love, loss, fear, and sacrifice. These products utilize advanced VR technology to craft innovative narratives that provide users with a deeply immersive experience, facilitating emotional connections and reflections on meaningful life events. Their offerings cater to a diverse audience, including consumers, educational institutions, and content creators across the global markets in North America, Europe, and Asia. Penrose Studios aims to transcend traditional media by delivering experiences that resonate on a personal level, thereby positioning itself as a leader in the evolving landscape of digital storytelling.Penrose Studios generates revenue through direct-to-consumer sales of its VR experiences, as well as potential partnerships with content distribution platforms and educational institutions. The company’s business model involves a transaction structure where customers purchase or subscribe to access their immersive content, likely through established VR platforms. Specific pricing details are not disclosed, but consumers engage with the content via digital storefronts or VR marketplaces. The studio's offerings, such as "Allumette," attract interest from individual users and potential partners in the entertainment and education sectors, facilitating broader distribution of their unique storytelling capabilities. This multi-faceted approach to revenue underscores the company’s commitment to expanding its reach and impact in the virtual reality space.Penrose Studios plans to leverage its recent Series A funding of USD 0.92 million raised in December 2017 to enhance its product offerings and expand its market reach. The company aims to develop new VR experiences designed to launch in the forthcoming years, targeting specific markets in North America, Europe, and Asia for expansion. This strategy is focused on deepening collaborations with educational institutions and content distributors to optimize their unique storytelling capabilities and increase accessibility to their immersive experiences.

## Funding rounds

- Series A, Sep 27, 2017, $10M — TransLink Capital
- Seed, Mar 10, 2016, $8.5M — TransLink Capital, Suffolk Equity Partners, Sway Capital, E8 Angels

## Investors

- TransLink Capital (https://capitalatlas.ai/funds/translink-capital) — Seed, Series A
- Suffolk Equity Partners (https://capitalatlas.ai/funds/suffolk-equity-partners) — Seed
- Sway Capital (https://capitalatlas.ai/funds/sway-capital) — Seed
- E8 Angels — Seed