The start-up is set to launch its Holo app this year, which will bring the imaging technology to mobile devices. Users can create mixed reality content from their phones by adding holograms of their favorite celebrities, characters and bands into their real world environments.
Baidu will provide financial backing, as well as work with 8i on future product development. The tech start-up was founded in 2014 and has offices in Los Angeles and Wellington, New Zealand.
8i, a company that develops holographic technology for virtual and augmented reality, today announced a US$27 million Series B round of funding to support the launch of its new mixed reality app Holo in 2017. The new round, which brings 8i’s total funding to $41 million, 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.