RTL leads $15m funding in Inception VR firm
August 3, 2017
Inception, a next-generation immersive content network, has announced a $15 million Series A funding round led by RTL Group, the broadcast, content and digital media giant. This investment helps Inception expand its content catalogue, enhance its technology platform and accelerate growth.
Consumers can discover and experience VR content on Inception’s app – original programming created with publishers and rights owners, channels of serialised interactive content and curated 3rd party content. Launched in October 2016, Inception has apps for Oculus Rift, Samsung Gear, iOS, Android, Google Daydream and HTC Vive, with Microsoft Windows Mixed Reality & Sony PSVR coming soon.
Benny Arbel, Inception’s CEO, said “VR is an incredible new entertainment medium and a fantastic opportunity for brands and talents to tell their stories and engage their audience as never before. Our unique combination of great technology and content will make VR more accessible and enjoyable for audiences around the world. Together, RTL Group and Inception can play a key role in shaping that experience by combining our expertise in content creation, episodic storytelling, and immersive technology to take audiences to the next level.”
Christos Schizas, Vice President Business Development and Group Synergies at RTL Group, will join Inception’s Board of Directors. He added: “Virtual Reality is a new medium for content and creative ideas, which are at the heart of what we do. That’s why it is only natural to explore ways of augmenting our total video universe with this new medium. We see clear potential for synergies with our existing portfolio of content production, multi-platform networks and advertising solutions. Inception’s experience and entrepreneurial spirit will match perfectly with our tradition and capabilities.”