The virtual reality camera

VIRTUALRELAITYCAMERA

Lytro raises $50 million to shift from still cameras to virtual reality

Lytro plans to bring its unique camera technology to video and virtual reality, giving the tech new opportunities to catch on. According to Recode, Lytro is raising money and cutting jobs in order to facilitate the transition. It’s raised $50 million in funding in a round led by GSV Capital that bumps the company’s valuation 5x. At the same time, Lytro is cutting 25 to 50 jobs from its current roster of 130. “We are going to have to make some cuts in some areas so we can staff up in some new ones,” Lytro CEO Jason Rosenthal tells Recode. Rosenthal tells Recode that he believes Lytro’s light-field technology is the “perfect solution” to recording video for virtual reality. ….[READ]

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