The leading provider of volumetric video editing and streaming tools, Arcturus, has raised USD 11 million in Series A funding led by Cloudtree Ventures to capitalize on the growing opportunities in the volumetric video market. Autodesk and Epic Games were also key investors in the financing round.
The round includes Susquehanna Private Equity Investments, LLLP, and QBN Capital contributions. It comes after a $5 million USD seeding round organized by BITKRAFT Ventures in 2021. BITKRAFT, NaHCoH3, Craig Kallman, and HBSE Ventures have all announced separate investments in Arcturus.
“Our goal is to give everyone from multinational brands to independent creators the tools they need to create authentic digital human representations in the metaverse of their choice,” said Kamal Mistry, CEO of Arcturus.
The company has seen a 270% increase in the adoption of HoloSuite from Q2 to Q3 alone this year. More people are now switching to the 3D creator path.
According to Arcturus, the Series A funding will assist the business in expanding its infrastructure, starting with hiring more people in sales, engineering, and research and development. It will also use the funding to keep improving its premier HoloSuite platform.
Along with introducing new dynamic lighting and surfacing options that will enhance the quality of the volumetric video, the company will also increase research into new AI tools to aid in improving the capture of 3D data with fewer cameras. Arcturus continued by saying that it is dedicated to finding innovative ways to enhance live-streaming concerts on digital platforms and give viewers a chance to view their favorite sports from any perspective.
Arcturus will continue to create new tools and methods for the most popular 3D creation tools worldwide, in addition to the planned improvements to HoloSuite. The company emphasized that creators can use volumetric video to put people in any virtual world within the Unreal Engine, Autodesk, and Unity ecosystems combined with its real-time 3D codec and editing tools.
Arcturus also aims to augment existing accessibility, support, and capabilities of volumetric video for both Autodesk and Unreal Engine.
“Arcturus’ tools make it easier for creators to compress, edit and stream volumetric video,” said Alasdair Coull, Chief Technology Officer of Special Projects for Epic Games.
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