Cinematic virtual reality (VR) experiences are quickly becoming as important to the industry as videogames. One of the leaders in this field is Jaunt, a 360 degree video group that has spent the past year releasing a wide range of new content that is compatible with head-mounted displays (HMDs) such as the Oculus Rift, Google Cardboard and more. Today, Jaunt is announcing a Series C round of funding that has seen the company raise significant investment from some major players within the film industry.
The company has secured some $65 million USD, with funding led by The Walt Disney Company, Evolution Media Partners, TPG Growth and Participant Media and China-based China Media Capital. The company claims that this money will go towards expanding its global reach and securing more resources as well as developing new relationships. It will be able to scale up its VR production and advance its professional hardware and production tools. Both of the company’s teams in Palo Alto and Los Angeles will also be expanded upon.
“This round further illustrates our commitment and dedication to advancing the scope of cinematic VR – for filmmakers, storytellers, and audiences alike,” Jens Christensen, CEO and co-founder of Jaunt, said of the news. “With the support of these world-class companies, we will explore new avenues, building on our leadership position to deliver amazing VR experiences using best-in-class tools, technology, and creative teams.”
In just this past week Jaunt has already formed 2 brand new partnerships. The first is with ABC News, as the pair released a short video named Inside Syria VR, focusing on the preservation of historical antiquities within the region. The company has also joined forces with Carrot Creative for new VR advertising opportunities.
VRFocus will continue to follow Jaunt’s work closely, reporting back with any further updates from the developer.