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.

@anthony256
Published Thu, Feb 26 2015 4:34 AM CST   |   Updated Sat, Aug 8 2020 10:29 AM CDT

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.

Lytro receives $50 million investment, will put it into VR and video | TweakTown.com

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 SOURCE:engadget.com

Anthony is a long time PC enthusiast with a passion of hate for games built around consoles. 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 custom-built PCs. His addiction to GPU tech is unwavering.

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