AtomShockwave Corp - the company created by's high-profile acquisition of Atom Corporation - has launched with $22.9m of financing.

The new company, combining online short film specialist AtomFilms and interactive entertainment provider, syndicates games, films and animation to on- and offline customers in traditional and emerging media, such as British Airways, HBO/Cinemax and Microsoft's Pocket PC.

Focussing efforts on reaching profitability by year-end, AtomShockwave has secured finance from Macromedia, Sequoia Capital, JPMorgan Entertainment Partners, Arts Alliance, Waterview Partners and affiliates and Intel Capital.

The company also confirmed that it will keep its global presence with bases in the UK and Asia, as well as retaining Shockwave and Atom as distinct brands.

"It is a new entertainment company with an even broader array of distribution channels via its two distinct brand offerings," said Mika Salmi, CEO of AtomShockwave.

AtomFilms was acquired by in a stock-for-stock deal last December. The newly-created company is 70% owned by Shockwave shareholders, while AtomFilms holds the remainder.