In case you were wondering if VR was the real deal, well check this news out. Jaunt has raised $65 million in a Series C round of funding led by The Walt Disney Company, Evolution Media Partners and China-based China Media Capital (CMC). The new investment brings Jaunt’s total funding to over $100 million and positions the company as the best-capitalized player in content creation and technology for cinematic VR.
This latest round of funding will enable Jaunt to significantly scale up cinematic VR production and advance its professional-grade camera hardware and software production tools, with the aim of making VR the next mainstream content medium.
In addition, Jaunt plans to use the funding to expand its teams in both its Palo Alto headquarters and its new Los Angeles studio.
Additional new investors in the Series C round include leading European media companies ProSiebenSat.1 Media SE and Axel Springer SE, and The Madison Square Garden Company. They join existing participating investors that include Google Ventures, Highland Capital, Redpoint Ventures, Sky Investment Group and SV Angel.