Lytro raises $60 million to bring light field VR technology into Asia

Source: venturebeat.com - Wednesday, February 15, 2017
Lytro may have had some setbacks in 2016 , but it appears to be onto something. Investors have noticed the potential of the company’s light field technology, so much that Lytro has raised another round of funding, bringing in $60 million in new capital. The lead investor is Blue Pool Capital, which is affiliated with Alibaba cofounders Jack Ma and Joseph Tsai, and there are plans to use the additional resources to bring Lytro’s technology to Asia. Others that participated in the round include EDBI, Huayi Media, Foxconn Technology Group, and Starwood Capital chief executive Barry Sternlicht. Existing investors like Andreessen Horowitz, NEA, GSV, North Bridge, and Qualcomm Ventures also chipped in. Lytro declined to disclose its valuation. “We believe that Asia in general and China in particular represent hugely important markets for VR and cinematic content over the next five years,” said company CEO Jason Rosenthal. “A key goal of this capital raise was to assemble a group of trusted capital partners to help us best understand and navigate this new market.” Lytro wants to be a major player for studios and companies seeking high-quality production value for their VR projects. Rosenthal told VentureBeat that he sees this space as being a “new computing platform bigger than the mobile revolution. From entertainment, to education, training, and teleportation, how we get together and meet will be transformed by this medium.” And the c

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