Netflix to Acquire 🤝 Animation Studio Animal Logic

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Netflix to Acquire 🤝 Animation Studio Animal Logic

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Streaming platform Netflix is planning to acquire Australian animation studio Animal Logic, which is known for making movies like The Lego Movie and Happy Feet, the company announced alongside its Q2 2022 earnings.

“Today, we announced that we will be acquiring leading animation studio Animal Logic, with ~800 amazing people mostly in Sydney and Vancouver, which will help us accelerate the development of our animation production capabilities and reinforces our commitment to build a world-class animation studio,” the company said in its second-quarter letter to shareholders.

The streaming giant has already been collaborating with the animation studio for two years and working on films likeThe Magician’s Elephant and The Shrinking of the Treehorns.

The acquisition will help Netflix to move further in the world of animation.

Netflix did not disclose the acquisition price for Animal Logic but said it will fund the acquisition from cash on hand.

The company expects to close the deal later this year, subject to certain regulatory approvals.

Johnson Matthey Plans to Invest $95 Million to Build Hydrogen Gigafactory 🏭

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Johnson Matthey, a chemicals & sustainable technologies firm, has unveiled its plans to build a $95.9 million (£80 million) “gigafactory” that will specialize in producing hydrogen fuel cell components.

The UK-based company said that the facility in Royston, England, would be able to produce 3 gigawatts of proton exchange membrane fuel cell components per year.

The operations of the facility will start in the first half of 2024.

Johnson Matthey’s plans have received backing from the U.K. government via the Advanced Propulsion Centre’s Automotive Transformation Fund, which is a funding program focused on large-scale industrialization.

Liam Condon, chief executive of Johnson Matthey, said, “Decarbonising freight transportation is critical to help societies and industries meet their ambitious net zero emission targets — fuel cells will be a crucial part of the energy transition.”

Although many companies and consumers are excited about the potential of fuel cell vehicles in the years ahead, the current market share of such vehicles remains small compared to battery electric vehicles.

Dubai Metaverse Plan to Support 40,000 Jobs in Five Years

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Dubai is looking to enter into the world’s top metaverse economies under a new strategy that envisions the sector to support nearly 40,000 virtual jobs in five years.

Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, crown prince of Dubai and chairman of the Dubai Executive Council, announced the launch of the Dubai Metaverse Strategy.

“We launched the Dubai Metaverse Strategy today, which aims to foster innovation in new technology. Dubai is home to over 1,000 companies operating in the metaverse and blockchain sector, which contributes $500 million to our national economy,” he said in a tweet.

He further said that the objective of the metaverse strategy was to support 40,000 virtual jobs and add $4 billion to the city’s economy in five years.

The Dubai Metaverse Strategy will include research & development collaborations to boost the economic contributions of the metaverse by utilizing accelerators & incubators to attract companies and projects from abroad.

It will also offer support in metaverse education aimed at developers, content creators, and users of digital platforms in the metaverse community.

Proptech Startup Casavo Raises $410 Million to Venture Into New Markets 💰

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Casavo, a digital residential platform for selling and buying homes, has raised $410 million (€400 million) in its latest funding round.

The funding is coming in the form of approximately $103 million Series D and approximately $307 million in debt to buy up and fix up properties.

The equity part of the financing was led by Exor, while the debt fund was led by Intesa Sanpaolo and Viola Credit.

Additional investors Neva SGR (Intesa Sanpaolo Group), Endeavor Catalyst, Hambro Perks, Fuse Venture Partners, and angel investor Sébastien de Lafond participated in the funding.

The round also saw participation from existing investors Greenoaks, Project A Ventures, 360 Capital, P101 SGR, Picus Capital, and Bonsai Partners.

Founded in 2017, Casavo is an Italy-based digital residential platform that is redesigning the experience of selling and buying homes in Europe.

The platform offers integrated home-related services, providing a turn-key experience with an inclusive approach toward real estate operators.

Casavo plans to use the capital to expand its business by growing in existing markets (Italy, Spain, & Portugal) and also expanding into new ones, with France being a priority.

Around the Web 🌐

Twitch to Launch a New Charity Fundraising Tool: American video streaming platform Twitch has launched beta testing for a new “built-in fundraising stream feature” to help streamers raise funds for causes they support. The feature, Twitch Charity, is designed to simplify the process of setting up a fundraising stream and collecting donations via Twitch.


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