US-based virtual reality (VR) technology developer Within has raised $40m in a series B round that included entertainment producer 21st Century Fox, marketing firm WPP and media company Macro Ventures, Bloomberg reported yesterday.
The round was co-led by Temasek, the sovereign wealth fund of Singapore, and investment firm Emerson Collective, and also featured Raine Ventures, the investment arm of financial services firm Raine Group, as well as venture capital firm Andreessen Horowitz.
Founded in 2014 as Vrse, Within has developed VR and augmented reality (AR) content technology such as a Goldilocks storybook which allows children to read a story aloud and see characters they mention appear on their mobile screen, superimposed on physical objects.
Within has also developed an immersive VR experience called Life of Us which can be viewed in Imax cinemas.
The funding will allow Within to develop additional content and new technologies to support other companies’ VR and AR devices and headsets, and to partner more brands. Capital will also go towards international expansion efforts where Temasek will provide strategic support.
Within has now secured a total of $56.6m in funding, according to Bloomberg. 21st Century Fox previously contributed to a $12.6m series A round for the company in June 2016 that was led by Andreessen Horowitz.
Raine Ventures also took part in the series A round, as did talent agency WME, media companies Live Nation, Vice Media, Annapurna Pictures, Legendary Pictures and Tribeca Enterprises, and early-stage investment firm Freelands Ventures.
WME, Vice, Legendary Entertainment, Live Nation, Andreessen Horowitz and angel investor Steve Chen had previously injected an undisclosed amount in Within in 2015.
– The original version of this article appeared on our sister, Global Government Venturing.