MOFAC Studio Raises $4.2M from Altos Ventures

Seoul, South Korea - MOFAC Studio, a South Korean animation production company, has raised KRW 6 billion (US$4.2 million) from venture capital firm Altos Ventures, the company said on Monday.

Altos Ventures was the sole investor in the funding round, according to MOFAC's statement.

The investment follows the North American theatrical release of MOFAC's animated film "King of Kings" in April 2025.

The company stated that the film generated KRW 10 billion (approximately US$7.0 million) in its opening week and placed second at the North American box office.

The studio reported cumulative box office receipts of KRW 27.2 billion (approximately US$19.1 million) within days of the film's release.

The animated feature received an A+ rating from CinemaScore, according to the company.

In South Korea, the film ranked second among domestically produced animated films in terms of cumulative box office revenue through its fifth week of release, according to MOFAC.

The film is based on a Charles Dickens novel depicting the life of Jesus, according to the statement.

The company stated that the film's North American box office performance surpassed that of "The Prince of Egypt," a biblical animated film released 27 years prior.

MOFAC founder Jang Seong-ho has worked on visual effects for South Korean films, including "Haeundae," "Roaring Currents," and the series "Sweet Home," according to the company.

The studio reported completing visual effects work on over 300 projects within 27 years.

The company stated that it utilizes Unreal Engine software in its animation production process to enable real-time simulation capabilities.

MOFAC reported that its artificial intelligence systems for virtual production reduce production time by up to 30 percent compared to conventional methods.

The studio focuses on adapting works in the public domain rather than developing original content or licensing existing properties, according to its statement.

"This investment will expand planning and production of our next feature-length animation," Jang said.

The company plans to increase its research and development spending on artificial intelligence and virtual production technologies, while expanding distribution in North America.

A representative from Altos Ventures stated that the firm based its investment decision on MOFAC's technology development, intellectual property strategy, and box office performance in North America.

MOFAC did not disclose production costs for "King of Kings" or provide financial projections.

(US$1 = KRW 1,426.39)