With a zeal to start his own VFX studio and leverage the opportunities presented by the rising demand for cost-efficient VFX services, Balakrishnan R founded Basilic Fly Studio in 2013. At that time, the industry was experiencing significant transitions, with increasing collaborations between studios in London, New York, and India. These developments fascinated Balakrishnan and gave him the confidence to start his venture. Reflecting on his journey, he noted, “We aimed to create something exciting with a strong emphasis on quality, building a respectful entity.”
Basilic Fly Studio’s impressive clientele includes Apple TV+, Marvel, Paramount, Netflix, Amazon, and Warner Bros. Pictures. They have contributed to notable projects such as Avatar: The Way of Water, The Last of Us, She-Hulk, Blue Beetle, 1899, Mary Poppins Returns, House of the Dragon, The Mandalorian, and many more.
The name “Basilic Fly” itself reflects their ethos of teamwork and persistence, symbolised by a bee with a crown in their logo. “We chose the name because we wanted to embody the characteristics of a honeybee—collaboration, persistence, and versatility,” he explained.
Rapid growth and strategic expansion
Since its humble beginnings with a small team of five, Basilic Fly has grown significantly. The studio now boasts over 500 members across Chennai, Pune, London, and Vancouver. “Expanding from Chennai to Pune allowed us to tap into new talent and establish a presence across India,” Balakrishnan highlighted. This growth was further bolstered by their successful IPO listing on the NSE (National Stock Exchange of India). “Our IPO was oversubscribed 286.6 times, and we raised significant funds. “The profitability and operational margins of our business attracted investors. We held several roadshows, which garnered interest from the investor community. The visibility and confidence this brought us were substantial.” Balakrishnan shared, “We raised around 66.35 crores, but the market showed interest of around 14,169 crores, which was huge.” He continued, “Getting into an IPO opened up new opportunities and changed our approach and thinking, marking a pivotal moment in our growth.”
Yogalakshmi S, Balakrishnan’s wife and the director and chief business strategy officer, joined Basilic Fly in 2014, bringing her diverse experience in HR, operations, production and client management. Her contributions have been crucial in the company’s strategic planning and business development. She noted, “By working on credible projects, we built our reputation and consistently grew, establishing operations in different locations despite varying laws and regulations.”
Employee well-being and remote work adaptibility
Basilic Fly prioritises its employees’ well-being, maintaining a good work-life balance and providing leadership training and career growth plans. This supportive environment was crucial during their seamless transition to remote work during the COVID-19 pandemic. “By early March, we had a setup ready, and when the lockdown was announced, we transitioned smoothly without missing a day,” Yogalakshmi recalled.
Surprisingly, the workload remained steady, bringing many opportunities even during the lockdown. The company aggressively recruited new talent, particularly in Pune, expanding significantly within one and a half years.
Strategic decisions and innovation
Despite the challenges presented by the recent writers’ strike, being publicly listed opened many opportunities for Basilic Fly. The strategic decision to open a studio in London was driven by favorable tax rebates and a strong talent pool. The London studio, named “Lightrunner Studio,” focuses on full-service CG work, aiming to handle everything from concept to final delivery. This move allows better collaboration with the Indian team and extends the reach to the North American market. The Vancouver branch is also set for growth. “We are working on expanding our Vancouver branch with plans for both organic and inorganic growth,” Balakrishnan shared.
Their focus on AI integration and Unreal Engine expertise underscores their proactive stance in industry innovation. “We ensure our artists undergo extensive training, particularly in Unreal Engine, which we see as a significant area for growth, ensuring that they are well-equipped for the industry’s future,” Balakrishnan said. The studio believes in embracing AI as a tool for growth rather than fearing it.
Exploring international collaborations
This commitment to staying ahead of the curve is part of what sets Basilic Fly apart. “We also have a culture of taking risks and exploring new opportunities, like our attempts to collaborate with artists in Myanmar and China. This willingness to try different approaches sets us apart,” he added.
Discussing their international collaborations, Balakrishnan shared, “Artists in China come from a very creative and traditional artistic background, which was fascinating. They adapt and embrace various forms of art, including visual effects, and were very enthusiastic about working on bigger projects.” However, he noted that “the political situation wasn’t conducive to setting up a permanent office.”
Yogalakshmi added insights on their efforts in Myanmar. “Myanmar, despite its challenges, is closer to markets like Thailand and China, and has a good relationship with China. We tried exploring this, but the political situation wasn’t viable for long-term operations,” she explained.
Challenges and reflections
Reflecting on their journey, Balakrishnan and Yogalakshmi have learned that success is not just about achievements but also about the experiences gained along the way. The industry’s constant evolution requires proactive and informed decision-making. They advise aspiring VFX studio founders to believe in themselves, adapt to changes, and develop their unique approach. Balakrishnan shared, “Self-belief and understanding one’s unique path are crucial.”
Balancing personal and professional life
Working together as a husband and wife in the same industry has enriched Balakrishnan and Yogalakshmi’s understanding and strengthened their bond. “We argue a lot, but it makes sense,” Yogalakshmi admitted. “Whenever we argue, one of us usually has a strong point, and we come to a decision.” This blend of shared vision and professional synergy has helped them navigate challenges effectively. Balancing professional and personal life is a constant effort, with a shared focus on building the company and handling its challenges.
Looking ahead
Basilic Fly continues to explore new opportunities for growth and innovation, focusing on expanding its presence and leveraging the talent pool in India. Said Balakrishna, “Upcoming months of 2024 and 2025 looks promising for collaborations, partnerships, and strategic opportunities, which are crucial for the industry’s progress.”
Balakrishnan and Yogalakshmi’s journey with Basilic Fly is a testament to their vision, dedication, and ability to navigate challenges, making their studio a respected name in the global VFX industry.