Internet company Yahoo have been around for a long time and seen many ups and down in the technology industry. It seems that Yahho Japan have decided that the virtual reality (VR) and augmented reality (AR) industry is worth investing in, and they have announced a partnership with VR/AR investment firm The Venture Reality Fund (The VR fund) to help grow the VR/AR industry.
Yahoo Japan is currently one of the largest media companies in Japan, seeing almost 90 million daily users across its various content platforms. The partnership between Yahoo Japan and the VR Fund is intended to inspire innovation and accelerate the growth of the VR and AR sectors. The VR Fund already has a substation portfolio of VR/AR start-ups creating content, infrastructure, hardware and tools for the wider VR industry.
“Yahoo! Japan and its leadership team are known for their commitment to continuous innovation and enriching services for their users and community,” said Marco DeMiroz, co-founder and general partner of The VR Fund. “Immersive technologies in AR and VR have great potential to revolutionize business, empower consumers, revitalize the economy and drive awareness and positive change in the world. Yahoo! Japan’s investment will help cultivate and scale new technologies and applications that can transform content consumption and commerce for the consumer.”
“We’re excited to partner with The VR Fund to accelerate the growth of some of the world’s most promising AR and VR technologies,” said Yuichiro Tanakamaru, corporate development manager of Yahoo! Japan. “We believe that AR and VR have the potential to transform consumer behaviors for media, shopping, social interaction, and other content and commerce dimensions, which will inevitably drive substantial economic growth across the globe. We look forward to working closely with The VR Fund to identify and promote the best and the brightest in the space.”
VRFocus will continue to bring you news of developments within the VR and AR industry.