DNEG Group, one of the largest film technology companies in the UK, has achieved a valuation of over $2 billion through an Abu Dhabi-backed capital raise. With the new financing, the company plans to enter film production and develop new AI tools.

DNEG, which created visual effects for films like "Dune," "Oppenheimer," "Interstellar," and "Blade Runner 2049," received approximately 200 million dollars from the United Al Saqer Group, an investor from Abu Dhabi supported by a member of the Emirate's royal family. This financial support allows DNEG not only to deliver visual effects but also to produce its own films, such as the recent "The Garfield Movie.

The investment will also promote the development of AI tools that enable other content producers in the fields of film, TV, gaming, and advertising to utilize advanced computer-generated images. These tools are intended to produce photorealistic content for a variety of applications.

DNEG has won seven Oscars for best visual effects, including for "Inception" and "Blade Runner 2049." The company, which has offices in the UK, India, the USA, and Canada, was formed in 2014 through the merger of Double Negative and Prime Focus.

We are striving to transition from a pure service company to a producer and owner of original content, while simultaneously developing the next generation of technological tools that can be utilized by high-quality content creators," said Namit Malhotra, Chairman and CEO of DNEG.

Currently, DNEG is working on films such as "Animal Friends" with Legendary Entertainment and Ryan Reynolds in the lead role, as well as "The Angry Birds Movie 3". Additionally, the company is producing an adaptation of the Indian epic "Ramayana" for a global audience.

The deal also highlights Abu Dhabi's ambitions in the film industry, as it supported RedBird IMI's £1.1 billion acquisition of the British TV producer All3Media this year. After the deal, DNEG plans to establish a center for creative industries in Abu Dhabi, aiming to develop a sector for content production, storage, and distribution in the Middle East.

Abu Dhabi strives to invest in new initiatives and technologies, aiming not only to position itself as a financial investor but also to develop and build its own industry," said Malhotra.

Prabhu Narasimhan, Managing Partner of NaMa Capital, one of the largest existing investors in DNEG, will join the board of the DNEG Group and also take on the chairmanship of the AI technology company Brahma AI.

Narasimhan said that the company would develop tools to automate the creation of realistic CGI using AI, in order to tell stories faster, better, and more cost-effectively.

Ahmed Jasim Al Zaabi, Chairman of the Abu Dhabi Department of Economic Development, stated that the deal not only accelerates technological advances in the media and entertainment sectors, but also underscores the commitment to fostering a robust ecosystem for content creation.