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
Internet of @ThingsExpo, taking place June 6-8, 2017 at the Javits Center in New York City, New York, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @ThingsExpo New York Call for Papers is now open.
Who are you? How do you introduce yourself? Do you use a name, or do you greet a friend by the last four digits of his social security number? Assuming you don’t, why are we content to associate our identity with 10 random digits assigned by our phone company? Identity is an issue that affects everyone, but as individuals we don’t spend a lot of time thinking about it. In his session at @ThingsExpo, Ben Klang, Founder & President of Mojo Lingo, discussed the impact of technology on identity. Sho...
Technology vendors and analysts are eager to paint a rosy picture of how wonderful IoT is and why your deployment will be great with the use of their products and services. While it is easy to showcase successful IoT solutions, identifying IoT systems that missed the mark or failed can often provide more in the way of key lessons learned. In his session at @ThingsExpo, Peter Vanderminden, Principal Industry Analyst for IoT & Digital Supply Chain to Flatiron Strategies, will focus on how IoT depl...
Data is an unusual currency; it is not restricted by the same transactional limitations as money or people. In fact, the more that you leverage your data across multiple business use cases, the more valuable it becomes to the organization. And the same can be said about the organization’s analytics. In his session at 19th Cloud Expo, Bill Schmarzo, CTO for the Big Data Practice at Dell EMC, introduced a methodology for capturing, enriching and sharing data (and analytics) across the organization...
With all the incredible momentum behind the Internet of Things (IoT) industry, it is easy to forget that not a single CEO wakes up and wonders if “my IoT is broken.” What they wonder is if they are making the right decisions to do all they can to increase revenue, decrease costs, and improve customer experience – effectively the same challenges they have always had in growing their business. The exciting thing about the IoT industry is now these decisions can be better, faster, and smarter. Now ...
WebRTC is about the data channel as much as about video and audio conferencing. However, basically all commercial WebRTC applications have been built with a focus on audio and video. The handling of “data” has been limited to text chat and file download – all other data sharing seems to end with screensharing. What is holding back a more intensive use of peer-to-peer data? In her session at @ThingsExpo, Dr Silvia Pfeiffer, WebRTC Applications Team Lead at National ICT Australia, looked at differ...
"Splunk basically takes machine data and we make it usable, valuable and accessible for everyone. The way that plays in DevOps is - we need to make data-driven decisions to delivering applications," explained Andi Mann, Chief Technology Advocate at Splunk and @DevOpsSummit Conference Chair, in this SYS-CON.tv interview at @DevOpsSummit at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
The cloud market growth today is largely in public clouds. While there is a lot of spend in IT departments in virtualization, these aren’t yet translating into a true “cloud” experience within the enterprise. What is stopping the growth of the “private cloud” market? In his general session at 18th Cloud Expo, Nara Rajagopalan, CEO of Accelerite, explored the challenges in deploying, managing, and getting adoption for a private cloud within an enterprise. What are the key differences between wh...
Adding public cloud resources to an existing application can be a daunting process. The tools that you currently use to manage the software and hardware outside the cloud aren’t always the best tools to efficiently grow into the cloud. All of the major configuration management tools have cloud orchestration plugins that can be leveraged, but there are also cloud-native tools that can dramatically improve the efficiency of managing your application lifecycle. In his session at 18th Cloud Expo, ...
"Logz.io is a log analytics platform. We offer the ELK stack, which is the most common log analytics platform in the world. We offer it as a cloud service," explained Tomer Levy, co-founder and CEO of Logz.io, in this SYS-CON.tv interview at DevOps Summit, held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA.
In his session at @DevOpsSummit at 19th Cloud Expo, Robert Doyle, lead architect at eCube Systems, will examine the issues and need for an agile infrastructure and show the advantages of capturing developer knowledge in an exportable file for migration into production. He will introduce the use of NXTmonitor, a next-generation DevOps tool that captures application environments, dependencies and start/stop procedures in a portable configuration file with an easy-to-use GUI. In addition to captur...
"ReadyTalk is an audio and web video conferencing provider. We've really come to embrace WebRTC as the platform for our future of technology," explained Dan Cunningham, CTO of ReadyTalk, in this SYS-CON.tv interview at WebRTC Summit at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Due of the rise of Hadoop, many enterprises are now deploying their first small clusters of 10 to 20 servers. At this small scale, the complexity of operating the cluster looks and feels like general data center servers. It is not until the clusters scale, as they inevitably do, when the pain caused by the exponential complexity becomes apparent. We've seen this problem occur time and time again. In his session at Big Data Expo, Greg Bruno, Vice President of Engineering and co-founder of StackIQ...
One of the hottest areas in cloud right now is DRaaS and related offerings. In his session at 16th Cloud Expo, Dale Levesque, Disaster Recovery Product Manager with Windstream's Cloud and Data Center Marketing team, will discuss the benefits of the cloud model, which far outweigh the traditional approach, and how enterprises need to ensure that their needs are properly being met.
Containers have changed the mind of IT in DevOps. They enable developers to work with dev, test, stage and production environments identically. Containers provide the right abstraction for microservices and many cloud platforms have integrated them into deployment pipelines. DevOps and Containers together help companies to achieve their business goals faster and more effectively. In his session at DevOps Summit, Ruslan Synytsky, CEO and Co-founder of Jelastic, reviewed the current landscape of D...