Pixvana raises US$14m for VR video platform

Virtual, augmented and mixed reality video company, Pixvana, has raised US$14 million in Series A funding.

The Seattle-based software startup’s aim is to “enable anyone to create and distribute next-generation video experiences” and it is building a cloud-based storytelling platform called SPIN Studio.

The funding round was led by Vulcan Capital with participation from new investors Raine Ventures, Microsoft Ventures, Cisco Ventures and Hearst Ventures, and existing investor Madrona Venture Group.

“We are thrilled to work with this amazing group of investors backing us, to realize our vision of XR [extended reality] storytelling,” said Forest Key, Pixvana CEO.

“Faster iteration and blending of video and 3D content will allow creatives, brands and media companies to create amazing XR experiences. More announcements like the recent devices for Windows MR and Oculus Go will create a rapidly expanding market for XR video experiences.”

Currently in beta, SPIN Studio is a platform for creating and delivering interactive extended reality (VR, AR, MR) content at 8K resolution.

“There is tremendous opportunity in the XR video space and it is clear that outstanding content and storytelling tools will define this new medium, ” said Stuart Nagae, general partner, Vulcan Capital.

“We think that Pixvana has an extraordinary team that really understands how to deliver cinematic, immersive experiences in XR and can build a SaaS business at scale.”

Lisa Nelson, managing director, Microsoft Ventures added: “Pixvana’s tools help others create immersive, next-generation video experiences for work and play. We look forward to supporting Pixvana as they help usher in the next big platform shift to mixed reality.”