Disney is pouring millions into making virtual reality a thing
A group of start-ups is striving to make virtual reality (VR) mainstream and one of them, Jaunt, just received a whopping $65 million investment from the Walt Disney Co. and investors in Europe and China.
The Palo Alto-based company, which makes hardware and software for VR including a camera that can shoot in 360 degrees, was founded merely two years ago and has already raised 100 million dollars.
According to CNET, Jaunt claims that the investments it has received make it the best-funded of the start-ups in the growing field of “cinematic” virtual reality. The goal of this relatively new field is to forever alter the way we watch movies and television, incorporating VR as a standard in these forms of entertainment. As a result, Disney’s investment carries a lot of weight: If cinematic VR truly catches on, it seems that the media giant wants to be ready.
Jaunt, which will use the recent investment to ramp up production and improve both its hardware and software innovations, isn’t the only VR company receiving large sum investments, either.
CNET reveals that prior to 2014, the entirety of virtual reality-related start-ups garnered less that $250 million in investments per year for a number of years. However, since the beginning of 2014 — less than two years — start-ups in the field have raked in over a billion dollars. This might be because those in the know say that VR is going to affect every industry out there.
Also contributing to this growth is the fact that a number of companies including Google, Sony, and Samsung all plan to release their own versions of VR headsets within the coming year.
Jaunt, which seems to be aiming the be known as the company that makes the hypothetical future VR content possible, has a strong ally in Disney. After all, the company owns ESPN, LucasArts, Pixar Animation Studios, and Marvel — meaning that there could potentially be an immersive, virtual reality Avengers movie (!!!!!!). Now, that’s an idea we can get behind.
(Image via Disney.)