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20 March 2018 – GP Bullhound is investing in Quixel together with Back in Black, in a SEK25m round. Quixel was founded in 2011 and develops tools for 3D artists, primarily in the video gaming and film industries. The company’s main product is Megascans, the world’s largest and fastest growing library of scanned 3D objects and materials. The funds raised will be used to accelerate the growth of the library and build an ecosystem of time-saving creative tools around Megascans.
One of the first users of Megascans objects and materials was MPC, the production company behind Disney’s Jungle Book, which used an early version of the library to create the film’s Oscar-winning 3D environments. Two of the most current games using Megascans is Capcom’s Monster Hunter: World and the remake of Shadow of the Colossus.
CEO and Founder Teddy Bergsman commented: “When we founded Quixel we had a vision of a future where game environments would become completely photorealistic and where a majority of films would rely entirely on computer-generated environments. This future would be characterized by high-quality 3D scanning.
We have therefore developed our own hardware and software and established a scanning team all over the world who worked for several years to create the world’s largest library of objects and materials.
The production of the Jungle Book was at the cutting edge of 3D cinema production, with not a single camera shot taken outside of MPC’s studio in Los Angeles. It proved to work perfectly with our technology.
We anticipate that the gaming, film, advertising and architectural industries will all converge towards using standardized workflows to create their content and we want to offer all the tools needed for artists to create photorealistic environments with simplicity.”
Joakim Dal, Partner of GP Bullhound Asset Management, Investment Advisor to GP Bullhound Fund IV: “Teddy is a brilliant example of today’s entrepreneur, an expert in his field even before he turned 30. Together with Waqar, he has built a fantastic company with some of the world’s largest users of 3D material. We think it’s very exciting to collaborate with Quixel and contribute to their continued growth.”
About GP Bullhound
GP Bullhound is a leading technology advisory and investment firm, providing transaction advice and capital to the best entrepreneurs and founders. Founded in 1999, the firm today has offices in London, San Francisco, Stockholm, Berlin, Manchester, Paris, Hong Kong, Madrid and New York. For more information, please visit www.gpbullhound.com, or follow on Twitter @GPBullhound.
About GP Bullhound Asset Management
GP Bullhound Asset Management is the firm’s independent investment arm. It currently manages four funds, investing in high-potential and fast growing technology businesses, from early stage to pre-IPO.