Gateshead animation studio receives £80k funding to scale up operations
A Gateshead-based 2D animation studio has received an £80k investment from a local venture capital firm to enable it to scale up its operations and service new markets.
Arcus Studios is a 2D animation studio that specialises in developing children’s animation, corporate videos and live exhibitions.
To date, Arcus has worked with E4, secured repeat commissions from CBBC for two short animation series, and worked with the UK’s most prestigious animation studio ‘Aardman’ to turn Shaun the Sheep into a 2D character.
The £80k investment comes from Northstar Ventures’ Finance for Business North East Proof of Concept Fund, and will primarily be used to create a number of new jobs and retain graduate talent in the region.
The investment will also be used to develop unique relationships with key local growth industries, expand into new markets and develop its slate of original animated content.
Michael Gandham, Managing Director at Arcus, said: “We’re delighted that Northstar has chosen to support Arcus. The investment will provide the catalyst needed to help expand our services, develop in-house IP and will go a long way to retaining creative talent in the North East.
“Arcus is looking forward to being part of the exciting growth in the region’s flourishing creative and tech sectors.”
Wesley Hartley, Investment Manager at Northstar Ventures, said: “Arcus is a unique creative business in the region, servicing a niche with strong potential. It possesses an excellent reputation for producing the finest quality 2D animation and has ambitions to transcend perceived regional barriers and grow beyond its current reach.
“What impressed me most about the company was the breadth of skills and experience across the management team and its passion and commitment to recruiting and retaining skilled young graduates in the region.”
The Proof of Concept Fund is backed by the European Regional Development Fund, the Regional Growth Fund and the European Investment Bank.
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