Media company RTL Group led a $15m series A round on Tuesday for Inception, the Israel-based creator of an online network for immersive content.
The round also featured angel investment network iAngels as well as individual investors James Packer and Gigi Levy-Weiss.
Founded in early 2016, Inception has formed an online network for premium virtual reality and 360-degree content covering categories such as art, music and lifestyle.
The company’s app is available for specialist VR platforms such as Oculus Rift, Google Daydream and HTC Vive as well as the iOS and Android mobile operating systems. It will use the series A funds to strengthen its technology and expand the content available for the platform.
Christos Schizas, RTL’s vice-president of business development and group synergies, will join Inception’s board of directors in conjunction with the round.
Schizas said: “Virtual Reality is a new medium for content and creative ideas, which are at the heart of what we do. That’s why it is only natural to explore ways of augmenting our total video universe with this new medium.
“We see clear potential for synergies with our existing portfolio of content production, multi-platform networks and advertising solutions. Inception’s experience and entrepreneurial spirit will match perfectly with our tradition and capabilities.”