Here at Comcast Ventures, we have been busy investing in virtual reality start-ups. Fundamentally, we think, hope and believe that VR is one of the next great technology platforms so are backing what we believe to be emerging winners across a variety of content segments. From NextVR for live broadcast sports to Baobab Studios for CG animation or Felix & Paul for cinematic action, we’ve supported insanely creative teams, with industry leading technical skills and an unwavering passion for the medium.
We are pleased to join Boost VC, Courtside Ventures, Greycroft Partners, Outpost Capital, Raine Ventures and Social Capital as the seed investors in Kite & Lightning, our first foray into VR gaming, filling a hole in our VR investment portfolio. Gaming has often been mentioned as VR’s first killer app and that makes sense -- especially when you look at the mobile app ecosystem. According to AppAnnie, in 2015, gaming generated 85% of ALL mobile app revenue, amounting to $34B. The entire games market (handheld, mobile, console, PC, etc) is estimated to generate $90B globally in 2016. So it stands to reason, there’s going to be a place for VR gaming.
As VR developers since 2013, Ikrima Elhassan and Cory Strassburger are grizzled VR veterans. Their credits include VR experiences for big brands such as Lionsgate ("Insurgent"), NBCU ("The Voice"), GE ("Neuro") as well original art house indie pieces like Senza Peso. Now, they are working on their first immersive gaming experience and whole new world entitled Bebylon Battle Royale, an immersive, multi-player game where narcissistic, immortal babies brawl in such a comedic fashion that it becomes addictive to play.
We look forward to its release later this year and to seeing where Ikrima and Cory take Kite & Lightning in the future.