Canadian 2D to 3D Converter Snags VC Financing
Vancouver-based Gener8 Digital Media Corp. receives $1.5 million in private financing for its proprietary stereoscopic 3D conversion software.
TORONTO - Competing against native 3D production, Gener8 Digital Media Corp. has won backing for its proprietary 2D to 3D conversion software, via $1.5 million in new venture capital financing.
The investment for the Vancouver-based 3D producer from Macquarie Private Wealth Inc., Haywood Securities Inc., Raymond James Ltd. and Leede Financial Markets follows stepped-up development of its evolving technology to geometrically create a 3D world in post-production from a 2D scene.
“Until we came along, this method was regarded as too expensive and too slow and too cumbersome to be used on 1500 to 2000 films shots,” Gener8 CEO Rory Ames said of converting a typically-sized theatrical feature film.
His company is doing just that on Sony Pictures’ Nicolas Cage-starrer Ghost Rider: Spirit of Vengeance.
“Conversion can match the quality of native. And it doesn’t restrict filmmakers from envisioning their film to the end,” Ames added.
The budget for a 2D to 3D conversion varies, depending on whether a producer wants to take their film to the big screens at the local multiplex, and the intricacies of a shot.
The cost of Gener8’s conversion ranges on average from $60,000 to $120,000 per-minute.
The Gener8 technology could have it biggest application on hybrid films, where some shots are done with 3D cameras and rigs, and others are converted from 2D to 3D.
“Our approach makes a seamless conversion of mono and stereo shots. It gets the best of both worlds,” Ames said.
Gener8’s other conversion credits include work on Harry Potter and the Deathly Hallows Part 2 and the animated short film Luna by Rainmaker Entertainment.