NZ-founded VR startup 8i has announced a US$27 million Series B round which will support the development of a new AR content creation app, Holo.
Every startup playing in the virtual reality space is putting a large bet on VR devices becoming part of mainstream culture. The media space is in a state of constant transition and very soon the relationship that consumers have with movies, television or even online platforms like YouTube or Vine won’t be driven by social media but rather immersive experiences.
It has been another busy week for the startup space. Dell made the headlines when it announced its intention to acquire EMC for $67 billion, the biggest deal in tech history, while Condé Nast acquired Pitchfork Media and online credit startup Kabbage raised $135 million and tripled its credit line to $900 million. Closer to home, Wellington-founded virtual reality startup 8i raised a $13.5 million (NZ$20 million) Series A round, and daily fantasy sports platform Moneyball raised $1.8 million.