EDBI, the investment arm of Singapore’s Economic Development Board (EDB), has participated in US-based Lytro’s $60 million Series D round.
The AR/VR (Augmented Reality/Virtual Reality) and digital cinematography startup saw the Series D led by Blue Pool Capital, with participation from new investors Foxconn and Huayi Media.
Existing major investors including Andreessen Horowitz, New Enterprises Associates (NEA), GSV, North Bridge and Qualcomm also participated in the latest round. This brings its aggregate equity funding to $210.75 million.
Blue Pool manages the capital of Hong Kong-based co-owners Alexander West and Oliver Weisberg, in addition to capital from Alibaba Group founder and Chairman Jack Ma and Vice-Chairman Joseph Tsai. Other limited partners in the firm include Blue Pool’s advisory board members.
In a statement, Chu Swee Yeok, CEO and President of EDBI, said, “Lytro’s presence in Singapore will help strengthen capabilities in revolutionary Light Field capture technology in a rapidly growing field of AR/VR.”
Lytro’s presence in Singapore will help accelerate the talent base and development of the AR/VR production base in the city-state and see it partner local research institutes to further advance their camera technology. It plans to grow its business and R&D activities in Asia out of Singapore.
Incepted in 2006, Lytro is building what it is claimed to be the most powerful Light Field cameras. This will enable artists, scientists and innovators to unlock new opportunities for photography, cinematography, mixed reality, scientific and industrial applications. The technology provides lifelike presence in VR with Six Degrees of Freedom (6DoF), addressing the challenges of live action immersive storytelling.
“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 Jason Rosenthal, CEO of Lytro.