360fly Raises $40M, Launches 360 Live Stream 4K Camera

May 26, 2016

8:00 am

This year is a big one for virtual reality and those who are creating content for it. This month, 360fly announced two major milestones for the hardware vendor: the successful close of a $40 million Series C round and the launch of their newest 4K live streaming 360 camera.

WIth so much focus on nextgen headsets like Oculus and Vive, the lack of content is one of the largest pain points for the industry. With 360flys’ newest camera, they make it easy to capture video in stitchless 360-degrees and easily edit it with their mobile app.

Their latest round is led by L Catterton, and supported by existing investor Qualcomm through Qualcomm Ventures and added Adidas Group through Hydra Ventures. The Series C round will be used to continue their research and development with a greater focus on machine learning, product integrations, and hardware integrations.

Beyond research, the capital injection will allow the company to bring their new 4K camera to a wider market with the expansion to global marketing and sales.

“Our investment partners recognize the tremendous opportunity within the VR space as we drive further toward a level of widespread consumer adoption,” said Peter Adderton, 360fly CEO. “We have no intention of slowing down or resting on our laurels, and closing this latest round of funding is critical to not only maintaining, but increasing the momentum we’ve established.”

unveiled at this year’s CES, their latest offering will not only record in 4K, but also allow you to stream to the LIVIT app. It features battery life for an hour and a half, and can be submerged in water up to 30 feet. Like it’s predecessor, it will also include bluetooth and built-in wifi.

Unveiled at the Consumer Electronics Show in Las Vegas earlier this year, the 360fly 4K camera boasts a higher resolution than its predecessor, intuitive filming and editing advancements, and live mobile streaming capabilities via the LIVIT mobile app.

“This is an exciting global launch for us, as the 360fly 4K camera is even more accessible via specialty retailers and our expanded presence in big-box stores, like Best Buy, Target, REI and Dick’s Sporting Goods,” said Adderton. “Coupled with the original 360fly HD camera – consumers now have two outstanding options – whether they’re new to the usage and benefits of 360-degree video or a more seasoned ‘pro’ interested in higher production applications or live streaming content.”

The 360fly HD camera is available for $399, and the new 360fly 4K camera for $499.

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Elliot is an award winning journalist deeply ingrained in the startup world and is often digging into emerging technology and data. When not writing, he's likely either running or training for a triathlon. You can contact him by email at elliot(@)elliotvolkman.com or follow him on Twitter @thejournalizer.

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