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Walt Disney bets big on virtual reality; invests in Jaunt

Harsha Masand | September, 24 2015

The Walt Disney Company is betting big on virtual reality and has invested in Jaunt - a cinematic virtual reality (VR) company.
 
Jaunt has raised $65 million series C round of funding led by The Walt Disney Company; Evolution Media Partners – a partnership of CAA-backed Evolution Media Capital, TPG Growth and Participant Media; and Chinabased China Media Capital (CMC).
 
The new investors will greatly expand Jaunt’s global reach, providing significant resources and relationships to help make VR the next mainstream content medium.
 
Jaunt leads the industry in innovation through its unrivalled end-to-end solution for creating and distributing premium live-action VR. This latest round of funding will enable Jaunt to significantly scale up VR production, and advance their professional-grade camera hardware and software production tools, delivering content to the widest array of mobile devices and VR hardware in the industry.
 
In addition, Jaunt plans to use the funding to significantly grow their teams in both their Palo Alto headquarters and their new Los Angeles studio.
 
Additional new investors in the Series C round include leading European media companies ProSiebenSat.1 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 and SV Angel. 
 
The new round brings Jaunt’s total funding to over $100 million. With these new additions, Jaunt’s investor group offers a global network of deep ties to the largest brands, franchises, talent and technologies, across all entertainment and media, as well as partners who add unique perspective and experience as Jaunt continues to expand and innovate.
 
“This round further illustrates our commitment and dedication to advancing the scope of cinematic VR – for filmmakers, storytellers, and audiences alike. With the support of these world-class companies, we will explore new avenues, building on our leadership position to deliver amazing VR experiences using best-in-class tools, technology, and creative teams,” said Jaunt CEO and co-founder Jens Christensen.

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