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Lytro snaps up a $60M megafunding to bring its high-end camera to Asia

Silicon Valley Business Journal
Luke Stangel

High-end image capture equipment maker Lytro has raised $60 million in new venture funding in a round led by Blue Pool Capital, a deal that will help it sell its cameras in Asia.

The latest funding also had participation from new investors EDBI, Foxconn, Huayi Brothers and Barry Sternlicht, founder of Starwood Hotels, and existing investors Andreessen Horowitz, NEA, GSV, North Bridge and Qualcomm Ventures. Including the Series D funding, the Mountain View-based startup has now raised an estimated $210 million to date.

CEO Jason Rosenthal leads Mountain View-based Lytro.

CEO Jason Rosenthal leads Mountain View-based Lytro.

LYTRO PHOTO

Lytro currently sells two high-end cameras, the Immerge and Cinema. The Immerge system is designed to capture virtual reality and augmented reality footage, while the Cinema is designed for filmmakers. The company is working with VR studio Within on a new project that’s currently in post-production.

Both cameras use light field technology, using multiple sensors to capture light as it reflects off the objects in front of it, creating detailed images the company says are superior to traditional cameras. Lytro had originally planned to make consumer-grade cameras, but pivoted toward enterprise customers.

Blue Pool Capital is backed by Alibaba founders Jack Ma and Joseph Tsai, who will help Lytro begin to sell its cameras in Asia.

Lytro was founded in 2006 by Stanford engineering grad Ren Ng, who stepped aside in 2012 to become the company’s executive chairman. Lytro is now led by former Ning CEO Jason Rosenthal.

Source: http://www.bizjournals.com/sanjose/news/2017/02/15/lytro-funding-blue-po...