Vreal, the US-based developer of a virtual reality livestreaming platform, secured $11.7m on Wednesday in a series A round featuring subsidiaries of chipmaker Intel and mobile game developer Akatsuki.
Intel Capital and Akatsuki Entertainment Technology Fund were joined by venture capital firm Axioma Ventures, which led the round, as well as VC firms CRCM Ventures and Upfront Ventures, and Vulcan Capital, the investment vehicle for Microsoft co-founder Paul Allen.
Vreal is developing a live streaming platform through which VR gamers can record and share their exploits for other users to view in VR with no loss of visual quality. It is undertaking closed alpha testing with its partners, and the series A funds will support development ahead of a full release.
Additional capital will go toward refining Vreal’s content creation tools and scaling the business in response to growth in the VR sector.
Chet Faliszek, a former writer at computer game development studio Valve, will represent Axioma on Vreal’s board of directors. Chris Williams, founder and CEO of children’s entertainment and media startup Pocket.watch, has also joined the board.
Vreal previously received $3.3m in seed funding in 2015 from investors including Upfront Ventures, Vulcan Capital, Presence Capital, IT Farm, Dawn Patrol Ventures and an assortment of angel investors.