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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 on Feb 26, 2015 04:34 am CST - 0 mins, 42 secs reading time

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".

Anthony Garreffa

ABOUT THE AUTHOR - Anthony Garreffa

Anthony is a long time PC enthusiast with a passion of hate for games to be built around consoles. With FPS gaming since the pre-Quake days, where you were insulted if you used a mouse to aim, he has been addicted to gaming and hardware ever since. Working in IT retail for 10 years gave him great experience with high-end, custom-built PCs. His addiction to GPU technology is unwavering, and with next-gen NVIDIA GPUs about to launch alongside 4K 144Hz HDR G-Sync gaming monitors and BFGDs (65-inch 4K 120Hz HDR G-Sync TVs) there has never been a time to be more excited about technology.

NEWS SOURCE:engadget.com

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