Los Angeles-based tech company Arcturus announced Thursday that it raised $5 million in a seed round led by BITKRAFT Ventures.
Arcturus is on a mission to create digital human holograms that have the ability to interact with viewers in real time. This may sound like a far fetched idea from a galaxy far, far away, but the company’s volumetric video software makes it possible.
Volumetric video enables users to consume live-action content in a range of new and exciting ways. Some examples include viewing sports in holographic form, photorealistic virtual performances and interactive digital human assistants.
“With volumetric content expected to increase sixfold in 2021, we will soon see gaming, movies, and live streaming all being disrupted by integrations of volumetric content,” a spokesperson for the company said in an email to Built In.
The company’s technology can also be applied to live music events. Arcturus consulted with Madonna on her appearance at the 2019 Billboard Music Awards. A range of holograms danced alongside the pop diva during her performance of the song “Medellín.” The act was the first live broadcast of its kind, according to the company.
The company’s mainstream success doesn’t stop there. Arcturus supported Verizon’s fan experience at Super Bowl LIV and Samsung’s 2020 phone release featuring boy band BTS.
How does it work? First an array of cameras and depth sensors surround a subject to create a photorealistic model, then content is captured and transformed into a fully 3D and interactive hologram. The company accomplishes this by way of its flagship product, HoloSuite.
HoloSuite operates as a SaaS platform for editing and distributing volumetric video. The HoloSuite platform enables users to edit and stream volumetrically captured content and then translate it to desktop browser and mobile devices.
This week, LA-based virtual reality companies have seen a significant uptick in financial activity. Warner Music Group announced an investment in virtual concert company Wave, and digital avatar app Genies announced that it raised a $65 million Series B funding round.
The new funding will be used to scale the company’s software development team, focus efforts on sales growth and invest in product development.
Additional investors HBSE Ventures, NTT Docomo Ventures and Build Ventures participated in the round, among others.
