Singapore state investment company Temasek Holdings and local venture capital firm Ericsenz Group have teamed up to invest an undisclosed sum in Los Angeles-based Spire Animation Studios.
Spire made the announcement in a statement recently. According to Chief Executive Officer P.J. Gunsagar, the firm has now raised more than US$40 million in funding, which will help with its efforts make new kinds of films with games engine tools and “great” metaverse experiences.
“Adding Temasek into our existing set of outstanding partners will help us realise our vision of bridging feature-quality linear and non-linear animated content,” he says.
Established in 2002, Spire’s animation credits include The Lego Batman Movie, Cars 2, Ratatouille, How to Train your Dragon, and Storks.
Temasek had a net portfolio value of S$403 billion ($292.3 billion) as of end-March 2022.