MUMBAI: In a spectacular turn of events that’s left industry insiders cheered up, London-based visual effects powerhouse Cinesite has secured a jaw-dropping $215 million (over Rs 1,800 crore) cash injection – a dazzling ray of hope amidst the storm clouds gathering over the VFX landscape.

The much-needed financial boost comes just as the industry witnesses the dramatic implosion of once-mighty rivals. VFX titan MPC and its parent company Technicolor crashed and burned last month, while Jellyfish Pictures is currently gasping for air as it scrambles to find a buyer.

“Money shots still matter in Hollywood,” quipped one industry observer, noting the financing was spearheaded by NatWest Corporate Bank, with Barclays and Santander also splashing the cash. Shareholder Gryphion helped sweeten the pot.....more on AnimationXpress.com

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