Felix & Paul Studios Inc.

Felix & Paul Studios specializes in immersive entertainment, creating location-based virtual reality (VR) experiences that educate and engage users through innovative storytelling and technology. Founded in 2013 in Montreal, Canada, Felix & Paul Studios focuses on developing immersive VR experiences. The company was established by Felix Lajeunesse, Paul Raphaël, and Stephane Rituit, with Rituit serving as the CEO. It has raised a total of USD 6.

80 mn through a SERIES A funding round on April 20, 2017, led by Comcast Ventures, along with involvement from CDPQ, LDV Management, OMERS Ventures, and Phi Group. The company's operations have remained consistent since its inception, focusing solely on immersive entertainment without any significant pivots or external partnerships. Felix & Paul Studios specializes in the creation of immersive entertainment experiences, primarily through location-based virtual reality (VR) exhibits and productions. Their core offerings include interactive VR experiences that transport users to remarkable locations, such as the International Space Station and the White House.

The experiences leverage advanced technology to entertain and educate, fostering community engagement among participants. Their clientele includes individual consumers visiting their exhibits and partnerships with various venues worldwide, including locations in Québec, Edmonton, Lucerne, Saint-Omer, and Tokyo. The company utilizes both functional and analytical cookies to enhance user interactions during these immersive explorations. Felix & Paul Studios generates revenue through ticket sales for its immersive exhibits and through partnerships with venues hosting their experiences.

The transaction structure typically involves direct-to-consumer sales, where individuals purchase tickets for entry into their location-based VR experiences. The company also enters into partnerships that may include revenue-sharing agreements with host venues, expanding their distribution while maintaining brand integrity. Flagship experiences like "Space Explorers: The ISS Experience" and "Space Explorers: THE INFINITE" significantly contribute to their revenue streams, appealing to casual users and enthusiasts alike, with ticket pricing based on market demand and venue capacity. Felix & Paul Studios aims to expand its market reach by introducing new immersive VR experiences designed for diverse audiences.

The most recent funding round will support the development of upcoming projects aimed at new geographic markets, with a focus on expanding their presence in regions such as Europe and Asia by 2024. The company plans to utilize funds raised during their SERIES A financing to enhance content creation and improve technology infrastructure, further solidifying their position in the immersive entertainment industry.