DNEG Secures $200M Investment to Revolutionize Visual Effects with AI and Expand in Abu Dhabi
July 3, 2024DNEG, a visual effects and animation firm, secures a $200 million investment from Abu Dhabi's United Al Saqar Group.
The investment boosts DNEG's valuation to over $2 billion.
Funds will aid DNEG's shift to content production and tech partnerships, particularly focusing on their AI-driven CGI creator Ziva, under Brahma.
DNEG plans to set up a visual experience hub in Abu Dhabi.
The company aims to expand Prime Focus Studios to co-produce feature films.
CEO Namit Malhotra expresses enthusiasm for the partnership, emphasizing innovation, job creation in the UAE, and industry transformation through advanced technology.
Summary based on 10 sources
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Sources
The Hollywood Reporter • Jul 2, 2024
‘Dune’ VFX House DNEG Raises $200M for AI Innovation From Abu Dhabi-Based FundEconomic Times • Jul 2, 2024
DNEG Group raises $200 million from UAE's United Al Saqer GroupBusiness Standard • Jul 2, 2024
Prime Focus subsidiary DNEG raises $200 million from United Al Saqer Group