High performance computing provider AMPD Ventures (AMPD.C) announced Friday CEO Anthony Brown and select other execs from the company wll be participating in a financing round to raise $500,000 for their company.
Slated as being fodder for ‘general working capital purposes’, the raise comes as the company has been talking about moving into the virtual film and TV production space, where movie production companies use ‘virtual backgrounds’ in studio using giant LED screens and/or virtual reality game engines to save money and time in production, creating effects and locations in-computer rather than over weeks and months in post production.
That move recently landed them a new partner, using the same tech for live performances, with a grant from Epic Games, producers of the global sensation, Fortnite.
AMPD Ventures Inc. has partnered with Shocap Entertainment Ltd. to conduct a number of joint projects and R&D (research and development) initiatives focused on innovation in virtual production technologies and high performance computing infrastructure for live performance […] With financing from the Epic Games MegaGrant program, and support from the Canada Media Fund and Creative BC, Shocap’s first project, LiViCi, for live and virtual contemporary circus, is a real-time blended reality theatrical and virtual on-line performance in partnership with Montreal’s Les 7 Doigts de la Main arts collective.
The raise comes as cloud computing giant Amazon Web Services saw extensive downtimes this week, leading to millions of domains being inaccessible for long periods. AMPD’s high performance computing offerings bring less expensive, more flexible, and entirely bespoke web services to corporate clients requiring large scale computing power.
Clients such as Bardel Entertainment, animators of TV’s Rick and Morty, and Teenage Mutant Ninja Turtles, have switched to AMPD product offerings in 2020.
AMPD has not released revenue details around the deal, in standing with their policy not to share pricing details with competitors.
AMPD stock has not moved out of the $0.12-$0.15 range in several months as the company continues to fill its deal pipeline. With executives announcing they’re putting their own money into the company financing, one might reason there is news coming shortly.
— Chris Parry
FULL DISCLOSURE: AMPD is not an Equity.Guru marketing client, but we have bought stock on the open market.
