Advanced Television

Comcast funds VR start-up

May 19, 2016

Comcast is amongst several firms to have invested $3 million in a new virtual reality company launched by executives behind DreamWorks Animation’s VR content.

Branded ‘Spaces’, the compnay creates virtual and mixed reality experiences and has been co-founded by CEO Shiraz Akmal and chief technology officer Brad Herman.

The company’s executive team has previously led the development and creation of the Dragons VR flying experience for Oculus Rift and the initial version of DreamWorks Color, an augmented reality app that brings children’s creations to life, as well as the DreamWorks VR app.

The initial funding round was led by Comcast Ventures, with VC firms including the Sinovation Fund, Boost VC, Canyon Creek Capital and Colopl VR Fund also on board

“Spaces has a compelling and clear vision to be the catalyst for companies looking to create VR and MxR [mixed reality] experiences,” added Comcast Ventures MD Michael Yang.

Kai-Fu Lee, founder and CEO of Sinovation Fund, added: “All around the globe, VR is transforming how we build, create and publish content, and how we experience the world. The Spaces team has the ability and the background to make an enormous impact on VR and MxR, and I am eager to see what they accomplish.”

Categories: Articles, Business, Funding, VR