Press release: SpaceVR Raises $1.25 Million to Launch Virtual Reality Camera Satellites into Space
SAN JOSE, CALIFORNIA – SpaceVR [1], the world’s first platform for creating cinematic, live, virtual space tourism, announced today it has raised a $1.25 million seed financing round. The funding is led by Shanda Group with participation from Skywood Capital. The new capital will be used to accelerate the launch of SpaceVR’s Overview 1, the world’s first virtual reality camera satellite, into space.
SpaceVR aims to provide an immersive first-hand experience of space travel via all current virtual reality devices. Taking advantage of the latest advancements in miniaturized satellite technology, SpaceVR’s state-of-the-art satellites will offer unprecedented panoramic views of our home planet from outer space, allowing consumers to experience the first ever 360-degree video content from low earth orbit.
[2]SpaceVR debuted this week Overview 1 during a keynote at the largest virtual reality conference in the world, the 2016 Silicon Valley Virtual Reality Expo [3], in San Jose.
“At the root of every major problem – climate change, bad education systems, war, poverty – there is an error in perspective that these things don’t affect us, that these things are separate. We built Overview 1 to change this. Opening up space tourism for everyone will provide a new perspective in how we view our world and how we process information,†said Ryan Holmes, founder and CEO, SpaceVR. “Astronauts who have had the opportunity to journey to outer space and experience Earth beyond its boundaries share this perspective and it has inspired them to champion a better way. We believe that this is the highest priority for humanity right now.â€
As a veteran investor in the telecommunications, media and technology space, Shanda Group has investments across all aspects of the growing VR ecosystem, including hardware, software, content and entertainment and non-entertainment-related applications. “Shanda’s investments have always been focused on truly innovative, advanced and ground breaking technologies and applications. Through our investment, Shanda hopes to join SpaceVR, as the first to bring people to outer space via virtual reality applications. This allows us to turn virtual reality into reality,†said Tianqiao Chen, chairman and CEO of the Shanda Group.
With this investment, SpaceVR expects its first technology demonstration satellite to be operational in early 2017. In the intervening time, SpaceVR will focus its efforts on content delivery and distribution channels, as well as satellite and ground communication development.
SpaceVR is currently working with NanoRacks, the leader in small satellite deployments from the International Space Station. For those companies interested in strategic partnerships with SpaceVR, please contact invest@spacevr.co [4].
About SpaceVR
Located in the heart of San Francisco’s emerging nano-satellite industry, SpaceVR is focused on creating cinematic, live, virtual space tourism. SpaceVR Founder and CEO Ryan Holmes was inspired by a phenomenon called the Overview Effect, which is the moment an astronaut realizes their place in an infinite universe by direct observation. Leading to reprioritization of protecting the earth and working together on a global scale, SpaceVR’s will launch state of the art virtual reality camera satellites into space to capture this experience and distribute it throughout the world for entertainment and education. For more information, please visit: http://www.spacevr.co/#spacevr [1].
About Shanda Group
Shanda Group is a global private investment group that actively seeks global opportunities with substantial growth or unique breakthrough potential. The company was founded by Chairman and CEO Tianqiao Chen and his family in 1999 and was the first Chinese online gaming company listed on the NASDAQ in 2004. Shanda’s success in the online entertainment industry has led to its transformation into a global investor with a strong focus in cutting-edge technology.