Liv, a virtual reality livestreaming platform, revealed that it had received $8.5 million in Series A funding.
The platform enables gamers and app developers to broadcast and record themselves in their favorite games or applications, utilizing both augmented reality and virtual reality technology.
The funding was driven by Bitkraft Ventures, with the participation of Sony Innovation Fund, Credo Ventures, Amazon Alexa Fund, Olive Tree Capital, and Samsung Next.
Liv said that it would use the money to hire more staff and create a creator and developer fund. The firm also announced that it plans to reveal its proprietary VR technology to creators this year.
Liv wants to reinvent VR content consumption and game streaming by enabling developers to share their activity in AR and VR games with their fans in real-time, either as their actual selves or as their favorite avatars.
“We’ve been on a mission to empower creators in VR and AR to share their adventures with their friends, family, and fans since 2016,” said AJ “Dr Doom” Shewki, co-founder and CEO of Liv. “As former competitive gamers and VR streamers ourselves, we know what we want & need out of the streaming & casting experience and set out to solve our own problems. This raise allows us to bring onboard top tier investors and strategic partners that will help us get closer to our goal of Liv existing on every headset and game.”
VR developers are getting a lot of attention nowadays from investors and VCs. One of the reasons for this is that VR technology is still in its early days, and there’s a lot of growth potential. This means that there are a lot of opportunities for developers to create innovative new VR apps and games. In addition, developers who can create successful VR apps can make a lot of money. For these reasons, many investors are eager to back VR development projects.
Recently, VR developer nDreams announced that it received a $35 million investment from the Aonic Group and Mercia Asset Management.
nDreams said it plans to use the funds to develop more titles, expand its internal studios, and invest in its academy program, nDreams Academy.
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