The Green Tree-based tech company behind the 360-degree video camera 360fly has closed a Series B funding round designed to boost the product's fall launch to consumers.
360fly, formerly known as EyeSee360, has closed a $17.8 million round of funding led by San Diego-based Qualcomm Ventures. The round adds Qualcomm to a list of lead investors that includes Greenwich, Conn.-based Catterton Partners, Hauppauge, N.Y.-based Voxx International and Steve Altman, former Qualcomm Inc. president and vice chairman.
360fly will use the funds to increase software and product development for the 360-degree panoramic video camera, the 360fly MICRO smart phone attachment, 360fly.com video hosting and sharing service and iOS and Android apps, according to a news release.
"Our investment partners see the tremendous potential of 360fly to deliver a product and software solution that will revolutionize the way people consume and hear video," said 360fly CEO Tim O'Neil in the release. "The positive feedback we are receiving from consumers around our new products is matched only by the national retailer community's interest in supporting our launch in the fall."
Deborah M. Todd: firstname.lastname@example.org or 412-263-1652
First Published August 12, 2014 12:00 AM