SUNNYVALE, Calif., Dec. 6, 2016 /PRNewswire/ -- Visbit, virtual
reality (VR) and 360-degree video streaming company, today
announced it has raised $3.2M in seed
funding with participation from Presence Capital, ZhenFund, Colopl
Next, Amino Capital, and Eversunny Limited. The company has also
announced the closed beta version of the industry's first
cross-platform streaming service for VR, which enables 360-degree
video and VR content creators and publishers to deliver Ultra High
Definition (UHD) quality streaming and viewing experiences to
consumers across multiple VR platforms.
"We back companies that are breaking down barriers to enable VR
to go mainstream," explained Amitt
Mahajan, founding partner at Presence Capital. "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."
The company will use its funds to further accelerate the
development of its patented Visbit View-Optimized Streaming (VVOS)
technology. This technology is the first to stream and play
near-zero latency 360-degree VR videos in 4-8K resolution over
regular Wi-Fi and LTE for mobile – and eventually tethered VR
headsets – marking a major industry milestone since the majority of
home Wi-Fi and mobile networks today can't deliver data at the
speed needed for a satisfying VR experience.
"Virtual reality is at such a tipping point, and to date, far
too many users have been disappointed in their experience. Our
technology is set to change that for content creators and
publishers, as well as the viewers, by delivering the best quality
VR videos," said Dr. Changyin (CY) Zhou, co-founder and CEO of
Visbit. "We're excited to have such prominent backers joining us in
our seed round of funding. 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."
With Visbit's technology, content creators now have the freedom
to show their stories in its highest possible quality to the widest
audience while saving time, cost and effort. End users are able to
enjoy better quality VR videos without buffering, downloading or
upgrading Wi-Fi, resulting in a better overall experience with no
extra cost or effort and allowing for better VR accessibility.
Existing pilot customers for the closed beta version include
award-winning cinematic VR experience creator Variable Labs;
award-winning digital marketing agency Primacy; a leading VR
content and solution provider, Cloudwave; Swiss IT service and
application provider, WION; video production veteran Fluidcast; and
virtual reality therapy application maker Realiteer. These pilot
users represent VR video platforms, as well as VR applications for
NGO, education, healthcare and travel to provide a broad range of
implementations for Visbit's streaming solution.
Visbit's streaming service is currently available in closed beta
for use on mobile VR platforms Samsung Gear VR powered by Oculus
and Google Cardboard. Proof of concept demo apps from Visbit in
both Google Play and Oculus Store can be accessed by invitation.
Additional VR platforms – both mobile and tethered – will be
announced in the coming months.
About Visbit
Visbit, Inc. is a visual technology
company enabling 360-degree video and VR content creators to
deliver the highest possible quality streaming and viewing
experiences to consumers across multiple VR platforms. With its
patented Visbit View-Optimized Streaming (VVOS) technology, Visbit
is the first to offer a streaming service that can deliver and play
360 VR videos without noticeable latency in 4-8K resolution over
regular Wi-Fi and LTE for mobile and eventually tethered VR
headsets.
Visbit's technology allows 360 VR video to be viewed without
downloading or heavy compression, which improves user experience,
increases user reach and saves overall data usage – closing the gap
between VR content requirements and typical network speed
capabilities.
The company was founded in 2015 and is based in Sunnyvale, CA. For more information go to
www.visbit.co.
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SOURCE Visbit