8i, a company that develops holographic technology for virtual and augmented reality, has received USD 27m Series B round of funding to support the launch of its new mixed reality app Holo in 2017, the company said.
The new round, which brings 8i´s total funding to USD 41m, was led by Time Warner Investments, with participation from Baidu Ventures, Hearst Ventures, Verizon Ventures, One Ventures, Carsten Maschmeyer´s Seed & Speed Ventures, and existing investors.
This is the first investment in VR/AR for Baidu, Inc. (NASDAQ: BIDU) through its recently formed fund, Baidu Ventures. Time Warner Investments Managing Director Scott Levine joins 8i´s board.
8i develops technology that provides an easy way to record, create and experience human holograms that look real and feel as if they were in the same room.