Los Angeles Business Journal

Virtual Reality Developer Survios Raises $50 Million

By Garrett Reim Tuesday, December 13, 2016

Virtual reality video game producer Survios announced on Tuesday that it has raised $50 million in capital over two rounds this year from Metro-Goldwyn-Mayer, Lux Capital, and other investors.

The Culver City-based firm launched the hit virtual reality game Raw Data in July, which grossed more than $1 million in sales within about a month. The $40 first-person shooter game also became the first virtual-reality title to hit the top of the sales charts on Steam, an online gaming platform.

MGM Chairman and Chief Executive Gary Barber joined Survios’ board as part of the latest round, reports Venture Beat. Other Survios investors also include Shasta Ventures, Danhua Capital, Shanda Holdings, Felicis Ventures, and Dentsu Ventures.

Survious will use its war chest of capital to further develop its Raw Data virtual reality title and to collaborate on the production new games with third-party developers.

Technology reporter Garrett Reim can be reached at greim@labusinessjournal.com. Follow him on Twitter @garrettreim for the latest in L.A. tech news.