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Major Takeaways:

  • AltspaceVR raises $5.2 million in seed funding from a variety of investors:
  • Seed investors include: Dolby Family Ventures, Formation 8, Google Ventures, Lux Capital, Foundation Capital, Rothenberg Ventures, SV Angel, Haystack Fund,Tencent, Raine Ventures, Promus Ventures, Western Technology Investment, and others.
  • Funding will support ongoing creative development, as well as further building out the team.

From the Press Release:

REDWOOD CITY, Calif., Sept. 11, 2014 /PRNewswire/ — AltspaceVR, the social platform for virtual reality, announced today that it has raised $5.2 million in seed funding to continue development and build out its team.  Investors in this round of funding include Dolby Family Ventures, Formation 8, Google Ventures, Lux Capital, Foundation Capital, Rothenberg Ventures, SV Angel, Haystack Fund,Tencent, Raine Ventures, Promus Ventures, Western Technology Investment, and others.

Connect.
Virtual reality (VR) is the only medium where you can look someone in the eye.  The richness of non-verbal communication in VR creates a powerful and emotional connection that will be the core of many amazing new experiences.  AltspaceVR will connect friends and enthusiasts in shared virtual spaces and let them interact in the most natural way possible online.

Share.
AltspaceVR creates a shared experience around anything on the web.  By bringing the 2D web into shared virtual spaces, users can watch Netflix, YouTube, Twitch, sports and other content together on massive screens.  The shared experiences facilitated by AltspaceVR range from business to consumer; from a virtual product collaboration session to a game night with friends across the country.

Build.
Right now, only specialized developers are able to create for VR, limiting the availability of content.  With AltspaceVR’s API, web developers can leverage their existing knowledge of JavaScript to build new VR experiences or make existing web apps can be VR enabled in a matter of hours.  AltspaceVR allows users to write in JS, and deploy in VR.

AltspaceVR will be showing a preview of its product on Thursday, September 11th at the Silicon Valley Virtual Reality Meetup, held inMountain View, CA.

About AltspaceVR

AltspaceVR is a software company building the social platform for virtual reality. With AltspaceVR, user connect in virtual spaces to create shared experiences around anything on the web. The AltspaceVR API lets developers write simple web code to create new VR experiences. AltspaceVR allows people to watch streaming video, play games, and get work done, together and entirely inside of virtual reality.  AltspaceVR’s investors include Dolby Family Ventures, Formation 8, Google Ventures, Lux Capital, Foundation Capital, Rothenberg Ventures, SV Angel, Haystack Fund, Tencent, Raine Ventures, Promus Ventures and Western Technology Investment.  AltspaceVR is based in downtown Redwood City, CA. altvr.com @AltspaceVR