Welcome!

News Feed Item

360fly Closes $17.8 Million in Series B Round Funding with Qualcomm as Latest Investor

Qualcomm Joins Lead Investor Catterton as well as Investment Partners Voxx International Corp. and Former Qualcomm Executive Steve Altman

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.

To learn more and keep updated on 360fly's launch progress, please sign up on www.360fly.com.

About 360fly
Formerly under the company name EyeSee360, 360fly creates products and software for interactive 360 degree video experiences. They aim to fundamentally change the way consumers record, watch and share video by capturing life just as you experience it — in 360 degrees.

Founded out of Carnegie Mellon University's Robotics Institute, 360fly is the technology leader in single-shot panoramic imaging for both still and video photography. 360fly has decades of experience in robotic vision, image rendering, and software interface development. Although 360fly's technology was originally designed for aviation and military use, they now make consumer and broadcast products. 360fly has offices in Pittsburgh and Virginia.

For additional information, please visit www.360fly.com. 
Like 360fly's Facebook page on facebook.com/360fly or follow on Twitter @360fly.

About Catterton 

Catterton is the leading consumer-focused private equity firm with more than $4.0 billion currently under management and a twenty-four year track record of success in building high growth companies.  Since its founding in 1989, Catterton has leveraged its category insight, strategic and operating skills, and network of industry contacts to establish one of the strongest private equity investment track records in the middle market.  Catterton invests in all major consumer segments, including Food and Beverage, Retail and Restaurants, Consumer Products and Services, Consumer Health, and Media and Marketing Services.  Catterton's investments include: Restoration Hardware, Plum Organics, Baccarat, PIRCH, Outback Steakhouse, Sweet Leaf Tea, Noodles & Company, PIADA, Heartland RV, Frederic Fekkai, Build-A-Bear Workshop, Wellness and Nature's Variety pet foods, Kettle Foods, Odwalla and P.F. Chang's, to name a few. More information about Catterton can be found at www.cpequity.com.

About Qualcomm Incorporated
Qualcomm Incorporated (NASDAQ: QCOM) is a world leader in 3G, 4G and next-generation wireless technologies. Qualcomm Incorporated includes Qualcomm's licensing business, QTL, and the vast majority of its patent portfolio. Qualcomm Technologies, Inc., a wholly-owned subsidiary of Qualcomm Incorporated, operates, along with its subsidiaries, substantially all of Qualcomm's engineering, research and development functions, and substantially all of its products and services businesses, including its semiconductor business, QCT. For more than 25 years, Qualcomm ideas and inventions have driven the evolution of digital communications, linking people everywhere more closely to information, entertainment and each other. For more information, visit Qualcomm's website, OnQ blog, Twitter and Facebook pages.

About VOXX International Corporation
VOXX International Corporation (NASDAQ: VOXX) is the new name for Audiovox Corporation, a company that was formed over 45 years ago as Audiovox that has grown into a worldwide leader in many automotive and consumer electronics and accessories categories, as well as premium high-end audio. Through its wholly-owned subsidiaries, VOXX International proudly is recognized as the #1 premium loudspeaker company in the world, and has #1 market positions in automotive video entertainment and remote starts, digital TV tuners and digital antennas. The Company's brands also hold #1 market share for TV remote controls and reception products and leading market positions across a wide-spectrum of other consumer and automotive segments. Among the key domestic brands are Klipsch®, RCA®,Invision®, Jensen®, Audiovox®, Terk®, and Acoustic Research®. . For additional information, please visit our Web site at www.voxxintl.com.

About Steve Altman
Steve Altman has had a long and distinguished career at QUALCOMM until his retirement from the company in early 2013. During his 24-year tenure at Qualcomm, Steve served in many different roles including General Counsel, President and Vice Chairman of the company. Steve is considered the chief architect of Qualcomm's strategy for licensing its broad intellectual property portfolio for wireless communications and will be joining our technical advisory board.

Photo - http://photos.prnewswire.com/prnh/20140811/135254

SOURCE 360fly

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
SYS-CON Events announced today TechTarget has been named “Media Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. TechTarget is the Web’s leading destination for serious technology buyers researching and making enterprise technology decisions. Its extensive global networ...
SoftLayer operates a global cloud infrastructure platform built for Internet scale. With a global footprint of data centers and network points of presence, SoftLayer provides infrastructure as a service to leading-edge customers ranging from Web startups to global enterprises. SoftLayer's modular architecture, full-featured API, and sophisticated automation provide unparalleled performance and control. Its flexible unified platform seamlessly spans physical and virtual devices linked via a world...
SYS-CON Events announced today that Commvault, a global leader in enterprise data protection and information management, has been named “Bronze Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Commvault is a leading provider of data protection and information management...
SYS-CON Events announced today that BMC Software has been named "Siver Sponsor" of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2015 at the Javits Center in New York, New York. BMC is a global leader in innovative software solutions that help businesses transform into digital enterprises for the ultimate competitive advantage. BMC Digital Enterprise Management is a set of innovative IT solutions designed to make digital business fast, seamless, and optimized from mainframe to mo...
SYS-CON Events announced today that Tintri Inc., a leading producer of VM-aware storage (VAS) for virtualization and cloud environments, will exhibit at the 18th International CloudExpo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, New York, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Events announced today BZ Media LLC has been named “Media Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. BZ Media LLC is a high-tech media company that produces technical conferences and expositions, and publishes a magazine, newsletters and websites in the software development, SharePoint, mobile development and Commercial Drone markets.
Enterprise networks are complex. Moreover, they were designed and deployed to meet a specific set of business requirements at a specific point in time. But, the adoption of cloud services, new business applications and intensifying security policies, among other factors, require IT organizations to continuously deploy configuration changes. Therefore, enterprises are looking for better ways to automate the management of their networks while still leveraging existing capabilities, optimizing perf...
SYS-CON Events announced today that MangoApps will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. MangoApps provides modern company intranets and team collaboration software, allowing workers to stay connected and productive from anywhere in the world and from any device. For more information, please visit https://www.mangoapps.com/.
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, wh...
The IoT is changing the way enterprises conduct business. In his session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, discuss how businesses can gain an edge over competitors by empowering consumers to take control through IoT. We'll cite examples such as a Washington, D.C.-based sports club that leveraged IoT and the cloud to develop a comprehensive booking system. He'll also highlight how IoT can revitalize and restore outdated business models, making them profitable...
Many banks and financial institutions are experimenting with containers in development environments, but when will they move into production? Containers are seen as the key to achieving the ultimate in information technology flexibility and agility. Containers work on both public and private clouds, and make it easy to build and deploy applications. The challenge for regulated industries is the cost and complexity of container security compliance. VM security compliance is already challenging, ...
SYS-CON Events announced today that ContentMX, the marketing technology and services company with a singular mission to increase engagement and drive more conversations for enterprise, channel and SMB technology marketers, has been named “Sponsor & Exhibitor Lounge Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York City, New York. “CloudExpo is a great opportunity to start a conversation with new prospects, but what happens after the...
The pace of innovation, vendor lock-in, production sustainability, cost-effectiveness, and managing risk… In his session at 18th Cloud Expo, Dan Choquette, Founder of RackN, will discuss how CIOs are challenged finding the balance of finding the right tools, technology and operational model that serves the business the best. He will discuss how clouds, open source software and infrastructure solutions have benefits but also drawbacks and how workload and operational portability between vendors...
The essence of data analysis involves setting up data pipelines that consist of several operations that are chained together – starting from data collection, data quality checks, data integration, data analysis and data visualization (including the setting up of interaction paths in that visualization). In our opinion, the challenges stem from the technology diversity at each stage of the data pipeline as well as the lack of process around the analysis.
As machines are increasingly connected to the internet, it’s becoming easier to discover the numerous ways Industrial IoT (IIoT) is helping to shape the business world. This is exactly why we have decided to take a closer look at this pervasive movement and to examine the desire to connect more things! Now if you need a refresher on IIoT and how it is changing the world, take a moment and listen to Greg Gorbach with ARC Advisory Group. Gorbach believes, "IIoT will significantly change the worl...