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TheStreet Open House

360fly Closes $17.8 Million In Series B Round Funding With Qualcomm As Latest Investor

Stocks in this article: QCOMVOXX

PITTSBURGH, Aug. 12, 2014 /PRNewswire/ -- 360fly, a revolutionary single-lens camera and software platform that captures stitch-less 360-degree video, today announced the closure of a $17.8 million Series B financing round. Qualcomm Incorporated, through its venture capital group, Qualcomm Ventures, joins lead investor Catterton, Voxx International (VOXX) and Steve Altman, former President and Vice Chairman of Qualcomm Incorporated, as primary investors of 360fly.

360fly Camera and Base

360fly, which changed its company name from EyeSee360 [earlier this year], will use proceeds from the investment to increase software and product development as it works towards a Fall 2014 consumer launch of the 360-degree panoramic video camera, the 360fly MICRO smartphone attachment, 360fly.com video hosting and sharing service and the 360fly apps for both iOS and Android platforms.

"Our investment partners see the tremendous potential of 360fly to deliver a product and software solution that will revolutionize the way people consume and share video," said Tim O'Neil, CEO of 360fly. "The positive feedback we are receiving from consumers around our new products is matched only by the national retailer community's interest in supporting our launch in the fall."

Earlier this year at CES 2014, VOXX Electronics Corporation, a wholly owned subsidiary of VOXX International Corporation, announced a distribution partnership to deliver the 360fly line of panoramic video cameras and software to the market.  

The camera allows users to capture and share an interactive video with a field of view of 360 degrees horizontal by 240 degrees vertical. 360fly frees the user from the limitations of traditional video – capturing the full experience in 360 degrees. The intuitive design and app interface give users an engaging experience when viewing video content. 360fly MICRO is a smartphone lens attachment that puts a spin on traditional video, offering smartphone users the ability to simultaneously record everything around them and share an immersive experience instantly through social media.

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