US-based 360fly, a camera and software platform that captures 360-degree video, has raised $17.8m in a series B round that included Qualcomm Ventures, the corporate venturing arm of telecommunications equipment maker Qualcomm.
Private equity firm Catterton led the round, which also included participation from electronic company Voxx International, which invested $3m, and former Qualcomm president Steve Altman.
The funding will support software and product development for 360fly’s camera products. The company is targeting a full consumer launch of a range of products in the autumn, including a 360-degree panoramic video camera, a smartphone attachment, 360fly apps for both iOS and Android, and a video hosting and sharing service, 360fly.com.
Voxx invested made its investment in April this year, entering into a distribution partnership to deliver the 360fly line of panoramic video cameras and software to the market. The company raised $2m in series A funding in 2012.
360fly, known as EyeSee360 until earlier this year, was founded out of Carnegie Mellon University’s Robotics Institute.
– Image courtesy of 360fly