Mumbai-based virtual reality content studio, SpectraVR has raised an undisclosed amount of seed funding from US-based technology venture capital firm Rothenberg Ventures.
Going beyond the traditional film making by using the latest camera techniques, SpectraVR offers a wide range of 360 degree videos and virtual reality-based content. Specialised in story telling, their main focus is on events, sports, travel and music.
The funds raised will be used for product development, which includes creating VR-based games for brands, travel-oriented experiences, movies and other short-format content. The startup’s main focus will be on enabling users to experience virtual reality through their smartphones to make it more cost effective.
As per reports, the virtual reality sector is expected to touch $150 Bn by 2020. This year, another startup in the VR space, SmartVizX raised funds from IAN and SA&E.