Madefire raised $6.5 million in Series B funding and the announcement comes just in time for New York Comic Con. Its co-founder and CEO Ben Wolstenholme said that this would help his company build more relations and become prominent in the media and entertainment world.
They aim to move from building technologies to building a content library.Series B investors include Drake, Kevin Spacey etc who are now connected to Madefire. Framestore, a visual effects firm said they are going to make Madefire-specific content.
Currently, Comixology by Amazon is the best-known platform for digital comics. They convert print comics into digital formats with basic changes. Madefire is trying to differentiate itself by adding animations, sound effects and music to its digital format. The resulting product would be a motion book, which would also provide an active reading experience.
Madefire has started by publishing its own titles but is now collaborating with traditional comic publishers such as DC, IDW and Kodansha. They plan to have a stock of over 40,000 books in the stores by the end of 2016. Also, they launched Motion Book Publisher, which allows comics publishers to create their own apps, and created a comic book explaining the new Apple App Store review guidelines.
Wolstenholme said that their goal is to create a “native digital experience” across various platforms such as phones, tablets or smart TVs. They intend to use the money from latest round to expand into virtual and augmented reality.