Quixel Raises £2.2 Million in Funding

GP Bullhound, the Manchester-based tech investment firm, and Back in Black, a Swedish venture capital firm, have invested £2.2 million in Quixel.

Quixel is a rather young company, however, it has become the world’s fastest growing library of scanned 3D objects and materials with its Megascans product. It was founded by Teddy Bergsman (CEO) and Waqar Azim (COO) in 2011.

Waqar Azim is a Computer Science graduate of National University of Computer and Emerging Sciences, Islamabad. He moved to Sweden in 2009 to pursue a Masters degree in Interactive Media Design. Both founders own the majority shares in the company as well.

The company primarily develops tools for 3D artists in the video game and film industries.


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Despite being new to the business, Quixel’s products have already been used in some of the most famous games and movies released to date. To mention a few notable feats of the company, Quixel’s products were used in the following projects;

Moving Picture Company (MPC) used Quixel’s 3D objects to create 3D environments for Disney’s movie Jungle Book. The movie won the academy award (Oscar) for the “Best Achievement in Visual Effects”.

The company’s 3D library was also used to create effects for worldwide megahits like Pacific Rim: Uprising (Double Negative) and Justice League (MPC).


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Among recent projects, Quixel’s 3D objects library is being used by Capcom to create visual effects for the Monster Hunter: World game. Bluepoint Games is also using the Megascans library to generate the 3D environment for its Colossus game.

Talking about the potential of the company and its founders, Joakim Dal of GP Bullhound Asset Management said;

Teddy is a brilliant example of today’s entrepreneur, an expert in his field even before he turned 30. Together with Waqar, he has built a fantastic company with some of the world’s largest users of 3D material. We think it’s very exciting to collaborate with Quixel and contribute to their continued growth.

The Founders’ Response

Talking about the vision of the company, Quixel’s CEO told;

When we founded Quixel we had a vision of a future where game environments would become completely photorealistic and where a majority of films would rely entirely on computer-generated environments. This future would be characterised by high-quality 3D scanning.


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To tap into the market of ever-developing 3D objects, Teddy continued saying;

We have therefore developed our own hardware and software and established a scanning team all over the world who worked for several years to create the world’s largest library of objects and materials.

Not a single shot in Jungle Book’s 3D cinema production was taken outside of MPC’s studio in Los Angeles, Teddy told;

The production of the Jungle Book was at the cutting edge of 3D cinema production, with not a single camera shot taken outside of MPC’s studio in Los Angeles. It proved to work perfectly with our technology.

We anticipate that the gaming, film, advertising and architectural industries will all converge towards using standardized workflows to create their content and we want to offer all the tools needed for artists to create photorealistic environments with simplicity.

The funds raised by Quixel during the SEK25m round will be used to accelerate the company’s development and growth of 3D objects library.

Via GP Bullhound