Newly-formed by AAA vets, VR studio First Contact nets $5M in funding

Virtual reality startup First Contact Entertainment has managed to raise $5 million in funding from a group of investors as it strives to, in its own words, "advance AAA virtual reality games."

While First Contact's remit encompasses VR experiences in general, the emphasis on big-budget VR game design is notable in light of the fact that the Santa Monica-based studio made its public debut last month sporting talent from studios like Blizzard, Starbreeze, Treyarch and Infinity Ward. 

Now the studio has a bit of extra spending money, a few new hires (including VRLA cofounder Jessica Ward and former Skybound Interactive producer Matt Candler) and plans to launch its first "playable VR content" on Steam later this year.