C360 Technologies, Inc. recently reported $3.5 million in an oversubscribed Series A funding, which was led by HorizonX Ventures and BlueTree Capital Group. The original projection for funding was $2.5 according to a spokesperson close to the company. In addition to investments from HorizonX and BlueTree, other investments come from MI-12 Ventures and Pasadena Angels.
Evan Wimer, CEO of C360 Technologies said, “It’s extremely gratifying that Boeing HorizonX has recognized our contributions within the sports broadcasting industry, and at the same time envisions how C360 could be utilized in future Boeing applications. We’re confident that Boeing’s investment into C360 will propel and inspire us to further advancements in the 360 VR/AR industry.”
Boeing HorizonX Vice President, Steve Nordlund, stated, “Our C360 investment is a powerful example of how HorizonX can access rapid advances in innovation outside aerospace and bring them to our Boeing customers. Putting additional capital to work and linking C360’s innovators with our Boeing teams allows us to accelerate new solutions, while providing new market access for C360. It’s a win-win – especially for our customers.”
HorizonX Ventures is the venture capital arm of the Boeing Company, which focuses on identifying startups that are developing revolutionary concepts worldwide. Since inception, HorizonX has invested in Upskill, Zunum Aero, and SparkCognition.
BlueTree Capital Group is a Pennsylvania-based investment firm that funds regional early stage companies. They primarily deal with companies in the biotech, messaging, and digital media sectors. BlueTree previously invested in Carmell Therapeutics in 2017 and RendrFX in 2016.
MI-12 Ventures is a group largely composed of physicians and administrators in the medical sector. Their focus is on medical software, hardware, products, and services.
Pasadena Angels is an angel investment group that offers funding to seed, early, and late stage startups in the fintech, biotech, martech, software, mobile, cleantech, and healthcare sectors. Pasadena Angels has also provided funding to Episona and Onramp BioInformatics in 2017.
C360 Technologies Information
C360 Technologies is known for creating 360-degree video solutions for broadcast. The company has been operating since 2008. Unlike other VR/360 solution companies, C360 doesn’t require multi-headed cameras and does not use stitching (arranging multiple photos into one image) to deliver their immersive broadcast and streaming video services.
The company focuses on over-the-top (OTT) and linear broadcast video solutions and is established within the VR/AR industry. Recently, C360 was featured as part of FOX Sports’ telecasts of MLB All-Star Events, Super Bowl LI, and the Daytona 500. The company has relationships with sports leagues and networks, including UFC, NHL, NFL, NASCAR, TNT, ESPN, and CBS Sports.
C360 will be using this new funding to develop features including replay applications, new camera controls, and video insertion for augmented and virtual reality animation.
“Boeing’s support for the growth of C360 Technologies is a testament to the capabilities of the company’s platform technology and founding team,” said Catherine Mott of BlueTree Capital Group in a release. “We are very pleased with this partnership.”