Sphericam, a Las Vegas-based maker of a 360˚ VR camera capable of self-stitching and livestreaming 4K video in real-time, raised $5m in funding.
Shanghai-based online and mobile gaming company Kingnet Technologies made the investment.
The company will use the funds to expand its manufacturing capacity. Full-scale production is scheduled to begin at a U.S. production facility this July following a $450k Kickstarter campaign.
Founded by American photographer Jeffrey Martin along with Dutch hardware specialist Servaes Joordens and software specialist Poppo Wit in 2014, Sphericam is making 360˚ cameras to create original content for virtual reality platforms and interactive online media. The company’s first product is Sphericam 2, an immersive capture device capable of self-stitching and streaming live 4K video at 60 frames per second.
Sphericam also has offices in Prague, Haarlem, Haaren and Ljubljana.