9th June 2016. Guildford, Surrey, UK. Focal Point VR today announced that it has successfully raised Seed finance from a group of leading business angels with expertise in technology, media and entertainment.
Investors include Simon Muderack (Angel Investor and M.D. at Sigma Systems) John Chasey (Investor and Operations Director of TVR Automotive), Jez San (Angel Investor and CEO of PKR.com) and Chris Wilks (CFO of Signum Technology).
Jonathan Newth, CEO of Focal Point VR said, “We’re delighted to have such a knowledgeable and successful group of investors on board. With Seed funding now in place we’ll be ramping up our in-house capacity and demonstrate our live streaming technology at a wide range of events and venues.”
John Chasey, Operations Director of TVR Automotive added, “Virtual Reality and 360 video are clearly in an area with enormous potential. The founders of Focal Point VR have a fantastic track record in building successful technology and creative businesses and I am very excited to be involved in their new venture. From a professional perspective I believe Virtual Reality has a transformational role to play in motor-sport and I look forward to working with the new technology within TVR.”
A teaser 360 video, produced by Focal Point VR, of Tiff Needell trying to sneak under cover of the new TVR can be seen here.
The key advantage of Focal Point’s technology is high quality shared VR Video live streams with highly optimised bandwidth use to addressing a major obstacle that broadcasters face as VR Video grows in popularity.
Focal Point VR delivers broadcast quality, live-streaming of events to all major head-mounted VR displays including the Samsung Gear VR, Oculus Rift, HTC Vive, Google cardboard and others, offering users an immersive and interactive experience at events anywhere in the world.
The founders of Focal Point VR include Julian Davis, formerly CTO of Geomerics, which was recently acquired by ARM; Paul James, Jonathan Newth and Ian Baverstock who have built several successful video games and technology companies together.
The company is currently in negotiations to livestream a wide variety of events and venues, with announcements due during 2016.
In addition to a live streaming platform Focal Point VR shoots and processes 360° video for playback on VR headsets or in a browser, and develops VR apps for a range of headsets and devices.
Media Inquiries to:
Alison Beasley, Lincoln Beasley PR. E: firstname.lastname@example.org
About Focal Point VR
Focal Point VR provides technology to deliver interactive and social, livestreaming of events in virtual reality, creates world-class virtual reality video experiences and developer custom virtual reality applications. The company was founded by experienced entrepreneurs from the video games and technology industries who will apply their interactive expertise to create compelling and immersive VR experiences.