Virtual reality (VR) streaming service Visbit join Vuzix as amongst the latest companies to announce the results of funding rounds. Visbit, whose 360 degree video streaming service for mobile VR platforms such as Gear VR and Cardboard, is presently in a closed Beta. Though ‘proof of concept’ applications can be found on both Google Play and the Oculus Store showing what the service will ultimately be capable of.
Such have clearly been successful in impressing, with Visbit announcing the acquisition of $3.2 million (USD) in seed funding which will be used help finance development of Visbit’s View-Optimized Streaming (VVOS) technology which looks to provide live streams of between 4K and 8K resolution at close to zero latency. Sources for the finance include Colopl Next and hedge-fund companies.
“We’re excited to have such prominent backers joining us in our seed round of funding.” Commented co-founder and CEO of Visbit Dr. Changyin Zhou. “This and the launch of our closed beta brings our company to a very exciting time of growth and execution in taking our vision to the next level.”
Presence Capital partner Amitt Mahajan explained his firm’s involvement in the deal. “We back companies that are breaking down barriers to enable VR to go mainstream. By ensuring publishers have the greatest possible impact with their content and viewers experience the most immersive, highest quality content, Visbit is taking a huge step in that direction.
Additional platforms, including more mobile platforms and support for tethered head-mounted displays (HMDs) are set to be announced at a future date.
VRFocus will bring you more information on these as they are revealed.