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Lytro receives $50 million investment, will put it into VR and video

Lytro will move into VR and video with its new $50 million investment
By: Anthony Garreffa | Virtual & Augmented Reality News | Posted: Feb 26, 2015 10:34 am

Lytro is a name that is usually associated with premium cameras, but the company has just secured itself $50 million in funding from GSV Capital, that it will use to push into the worlds of VR and video.

 

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The company will lay off around 25 to 50 of its 130 employees, but it will be acquiring new talent with knowledge in VR and video. With Lytro concentrating, at least before this investment, on tubelike, selective-focus cameras, it would make sense for the company to make a splash in the world of virtual reality, and video.

 

VR video from a company with an eye for detail like Lytro feels like a match made in Heaven, where we could see the real-world captured in stunning 360-degree goodness. Lytro is still working on its third-generation camera for 2016, which the company teases "should be pretty intriguing".

NEWS SOURCES:Engadget.com

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