|By Marketwired .||
|September 2, 2014 12:00 AM EDT||
CARLSBAD, CA--(Marketwired - September 02, 2014) - California-based Legend3D, Inc., an innovative 3D visual effects and conversion company, has closed on a $10 million Series C Stock offering announced today by Legend CEO Brian Robertson. The funding was led by current investors, Northwater Capital Management Inc. of Toronto through its $300 Million Intellectual Property Fund 3 and Monaco-based Augustus Ventures Limited.
The purpose of the funding is to provide the capital for a rapid expansion of capacity by setting up a third facility in a cost advantaged jurisdiction.
"This vote of confidence by our lead investors reflects our market share growth in the last three years coupled with our expansion plans for a third facility in the immediate future that will allow us to potentially double our production capacity by the 3
"This growth is fueled by our confidence in the future of the domestic and international 3D marketplace, as well as our new visual effects services and the commercialization opportunities of our market-leading software developments," concluded Robertson.
"We are always delighted when one of our companies needs support in rapid expansion of its capacity," said David Patterson, CEO of Northwater. "In this case Legend3D is seeing a substantial increase for the demand of its services over the next 18 months and it has to build that capacity now to ensure it maintains its stellar reputation for on time delivery and the highest quality in the industry."
Legend3D currently has a 60,000 sq. ft. production studio in Carlsbad, California and just completed a state-of-the-art 3D review hub in Hollywood. With a number of 2015 film releases currently in-house, Legend3D has recently partnered with Marvel/Columbia Pictures, Sony, Warner Brothers, Paramount, Disney and BBC Films on major film features, including: Maleficent, Transformers: Age of Extinction and The Amazing Spider-Man 2.
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