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Baobab Studios, a 10-time Emmy-winning animation company, has announced a significant funding round from Naver Ventures, the investment division of South Korea’s major internet corporation Naver. The seven-figure investment values the studio higher than previous rounds, demonstrating investor confidence in Baobab’s ability to develop intellectual property that appeals to audiences across Asia and North America, particularly Generation Z consumers.
The flagship project emerging from this partnership is “Shine,” an original fantasy adventure crafted by Oscar-nominated animator Erick Oh and webtoon creator Madeleine Rosca. The story follows a half-human girl navigating a futuristic Korea as she attempts to restore harmony between human and spirit realms. Baobab is collaborating with Webtoon to release the title as a digital webcomic series before transitioning to a print graphic novel through First Second Books, while retaining all film, television, streaming and gaming adaptation rights.
The collaboration represents a strategic alignment of creative and technological resources. Naver brings extensive content distribution networks and digital expertise across Asia, while Baobab contributes its animation storytelling capabilities and multi-platform development experience. Both partners emphasized their commitment to creating franchises that extend across multiple formats and reach Gen Z and younger audiences through diverse mediums including animation, gaming, publishing and interactive experiences.
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Originally reported by Variety →
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