Pixvana, the tech startup that specialises in cloud-based video content creation and distribution has announced the completion of a Series A funding round of $14 million USD.
The round was led by Vulcan Capital with participation from new investors Raine Ventures, Microsoft Ventures, Cisco Investments and Hearst Ventures, and existing investor Madrona Venture Group.
The funding will be used to help bolster SPIN Studio, Pixvana’s cloud-based storytelling platform which handles everything from stitching, editing, publishing, and playback in one workflow. The platform offers creative tools for virtual reality (VR), augmented reality (AR) and mixed reality (MR) storytelling, including customized templates and interactive hyperports.
“We are thrilled to work with this amazing group of investors backing us, to realize our vision of XR storytelling,” said Forest Key, Pixvana CEO in a statement. “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.”
SPIN Studio users can access Pixvana’s encoding system that renders up to 8K stereo content using its patented FOVAS (field of view adaptive streaming) technology, enabling high-quality experiences on head-mounted displays (HMDs) like Microsoft’s Windows Mixed Reality, Oculus Rift, HTC Vive, Samsung Gear VR, Google Daydream, and more.
“There is tremendous opportunity in the XR video space and it is clear that outstanding content and storytelling tools will define this new medium,” said Stuart Nagae, General Partner, Vulcan Capital. “We think that Pixvana has an extraordinary team that really understands how to deliver cinematic, immersive experiences in XR and can build a SaaS business at scale.”
For the funding pitch Pixvana created a 360-degree video using SPIN Studio called Sofia – in homage to Sofia Coppola. The video (seen below) is a cut down version of the full 15-minute pitch. As with any 360 video it’s best to watch using a headset. Whilst most headsets will be able to play the YouTube video, for the best experience – and to see FOVAS in action – you’ll need to download the SPIN Play app. Currently this is available on Steam for Oculus Rift and HTC Vive, with a mobile version due next month.
For any further Pixvana updates, keep reading VRFocus.