US-based augmented, virtual and mixed reality developer Pixvana has secured $14m in a series B round featuring subsidiaries of software provider Microsoft, networking technology producer Cisco and media group Hearst.
Microsoft Ventures, Cisco Investments and Hearst Ventures were joined by private equity firm Vulcan Capital, which led the round, as well as Raine Ventures, the venture capital arm of merchant bank Raine Group, and VC firm Madrona Venture Group.
Pixvana is developing an end-to-end cloud platform that will enable users to create interactive virtual, augmented and mixed reality content, a combination it refers to as XR, at 8K resolution.
The platform, Spin Studio, incorporates stitching, editing, publishing and playback in a single place, and is compatible with Microsoft’s Windows mixed reality (MR) devices and virtual reality systems such as Oculus Rift, HTC Vive, Gear VR and Google Daydream.
Forest Key, chief executive of Pixvana, said: “We are thrilled to work with this amazing group of investors backing us, to realise our vision of XR storytelling.
“Faster iteration and blending of video and 3D content will allow creatives, brands and media companies to create amazing XR experiences. More announcements like the recent devices for Windows MR and Oculus Go will create a rapidly expanding market for XR video experiences.”
Madrona had previously led a $6m funding round for Pixvana at the end of 2015 that included Vulcan Capital and undisclosed angel investors.