US-based imaging technology developer Lytro raised $60m yesterday from investors including manufacturing services provider Foxconn, entertainment producer Huayi Brothers and Qualcomm Ventures, the corporate venturing arm of mobile chipmaker Qualcomm.
Alternative asset manager Blue Pool Capital led the round, which featured Singaporean state-owned fund EDBI, private investor Barry Sternlicht and all Lytro’s existing backers, including Andreessen Horowitz, New Enterprise Associates, GSV Capital and North Bridge Venture Partners.
Founded in 2006, Lytro has developed a light field camera and imaging platform that can be used to film and create high-quality virtual reality content. The company claims its system provides the highest quality and highest resolution VR filming currently on the market.
Lytro has just finished production on its first marketplace-focused project in partnership with VR studio Within and expects to reveal details soon.
The round brought Lytro’s overall equity financing to about $200m. Its last funding conisted of $50m in an early 2015 round led by GSV Capital that included Allen & Company, Danhua Capital and all its existing investors.
Qualcomm Ventures was described by Lytro yesterday as an existing investor but has not disclosed details of its past participation in the company’s financing.
Jason Rosenthal, Lytro’s president and CEO, said in a blog post: “We feel enormously honoured to have the support of these world-class VCs and strategic partners and are excited to continue to push the envelope on product and technology development.”
– Photo of the Lytro Immerge courtesy of Lytro