World’s first eye-tracking Virtual Reality headset company, today announced that it has raised US$11 million in a Series A funding led by Colopl VR Fund with the participation of Hon Haiventure capital fund, 2020, and Samsung Venture Investment.
The Colopl VR Fund – totaling $50M – was established by COLOPL Inc. and COLOPL NEXT, Inc. (COLOPL, Inc.’s 100% investment business subsidiary), focusing specifically on VR. 2020, is a Hon Hai venture capital focused on novel technology.
FOVE is a cutting-edge VR headset, the first in the world to have integrated eye-tracking, in addition to head- and position-tracking.
The user’s gaze allows FOVE providing: pleasant and long VR experiences with minimal simulation sickness; more natural image by blurring unfocused peripheral areas; lifelike communication through eye-contact with other VR players; entirely new, subconscious UI operations using eyesight; foveated rendering (a technique that reduces the GPU burden in areas where the user is not looking)
Funding mass production to start next Fall, but many more
The additional funding will enhance FOVE’s strategic collaboration with Investment Companies and support its goal of accelerating mass production of the device in the Fall of 2016. It will also strengthen the company’s mid- to long-term R&D capabilities and reinforce business support in VR content creation featuring eye-tracking technology.
As recently announced, the FOVE platform will be operating in over 7,500 Internet cafes in Korea and Japan, expanding the VR experience to more users than ever before.
In addition, FOVE and its partnering investors develop products that are compatible with FOVE HMDs, such as eye-tracking VR experiences developed by COLOPL, Inc.