Kite & Lightning Gets $2.5M For VR Studio

Los Angeles-based Kite & Lightning, a new virtual reality studio, has raised $2.5M in a seed funding round, the company announced this morning. The round was led by Raine Ventures, and also included Courtside Ventures, Comcast Ventures Catalyst Fund, Social Capital, Outpost Capital, Boost VC, & Jason Rosenthal, CEO of Lytro. According to Kit & Lightning, the funding goes to expand its title Bebylon Battle Royale, a virtual reality title which focuses on "competitive spectator gaming". Kite & Lightning is led by founder Ikrima Elhassan. The company currently only has 4 employees.