Penrose Studios has raised $10 million for AR/VR entertainment.
Penrose Studios has raised $10 million for AR/VR entertainment.
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Penrose Studios raises $10 million for AR/VR entertainment

  • Posted byby Dean Takahashi
  • Updated
  • 3 min

Penrose Studios has raised $10 million in a new round of funding for its augmented reality and virtual reality entertainment. That’s a beefy round, considering that part of the company’s market, VR, has fallen out of favor with investors.

But San Francisco-based Penrose Studios has set itself apart with animated VR films such as Allumette, which aims to bring a more human feel into the technology with personal and emotional stories. Penrose’s founders come from places like Pixar Animation, and they know how to tell a story.

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Written by

Dean Takahashi

Dean Takahashi is editorial director for GamesBeat. He has been a tech journalist since 1988, and he has covered games as a beat since 1996. He was lead writer for GamesBeat at VentureBeat from 2008 to April 2025. Prior to that, he wrote for the San Jose Mercury News, the Red Herring, the Wall Street Journal, the Los Angeles Times, and the Dallas Times-Herald. He is the author of two books, "Opening the Xbox" and "The Xbox 360 Uncloaked." He organizes the annual GamesBeat Next, GamesBeat Summit and GamesBeat Insider Series: Hollywood and Games conferences and is a frequent speaker at gaming and tech events. He lives in the San Francisco Bay Area.