London-based VFX, animation and tech company DNEG Group has secured $200m in investment from the United Arab Emirates-based United Al Saqer Group (UASG).
DNEG Group said the investment will help it to develop in three key areas. This includes the development of new content by Prime Focus Studios, following the recent success of The Garfield Movie, joining its slate of in-production content, including Animal Friends, Ramayana, and The Angry Birds Movie 3.
It will also see the launch of a new technology division, Brahma, which is developing an AI-powered, photo-real CGI creator.
The investment will also lead to the opening of a new visual experience hub in Abu Dhabi, with plans to develop an ecosystem for content production, storage, and distribution in the region.
The DNEG Group consists of VFX and animation house DNEG; Prime Focus Technologies (PFT); content division Prime Focus Studios; and AI division Brahma.
Namit Malhotra, DNEG CEO, said: “This investment will accelerate our plans to further drive The DNEG Group’s existing activities and enable the Group to expand its offering, both in terms of the services we provide and the markets we operate in. We are building on our success with the opening of a studio in Abu Dhabi, bringing content creation and technological capabilities to the region, positioning us as a leader there, and allowing us to leverage our global capabilities like no other.”
Joining Malhotra on the DNEG Group’s Board of Directors are Nabil Kobeissi and Edouard Zard from UASG, and Prabhu Narasimhan from NaMa Capital, a leading investor in the DNEG Group, who will also become Executive Chairman of Brahma.
Nabil Kobeissi, CEO of UASG, said: “This strategic partnership not only turbo-charges the development of Brahma, the Group’s ground-breaking AI-powered CGI creator, but also, under Namit’s leadership, demonstrates Abu Dhabi’s positioning as a global epicentre for content creation and distribution. By championing advanced AI technologies and expanding Prime Focus Studios, we are set to drive innovation and generate significant job opportunities across the UAE.”
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