New Zealand-based virtual reality technology developer 8i has secured $13.5m in series A funding from investors including electronics producer Samsung and media group Bertelsmann, Techcrunch reported yesterday.
Samsung and Bertelsmann participated through their respective investment vehicles, Samsung Ventures and Bertelsmann Digital Media Investments.
RRE Ventures, Founders Fund Science, Horizons Ventures, Sound Ventures, Signia Venture Partners, Inevitable Ventures, Freelands, Advancit Capital, Kortschak Investments, Rothenberg Ventures, End Cue, Dolby Family Ventures and Boost VC also took part alongside assorted angel investors.
Founded in May 2014, 8i is working on technology that enables a scene to be captured in 360 degrees, letting a viewer walk around a room. The company focuses on capturing human experiences, such as recording a mother with her baby so that the child could one day watch, as opposed to gaming.
8i is working on a platform that will enable creators to make their own virtual reality worlds, and is set to open a studio in Los Angeles that will be free to use.
The company previously raised approximately $1.2m in a seed round funded by Samsung’s Global Innovation Center accelerator, according to Crunchbase. However, the claim is unsourced and could not be verified.