AltspaceVR, the virtual reality communication platform, has announced it’s to receive an additional $10M of funds to help accelerate the company’s product development.
AltspaceVR is a social communications platform which allows networked VR participants to meet, share, present and talk in virtual reality. Founded in 2013, the company has ridden the wave of VR’s growth and now plans to expand its team as it sets its sights on delivering a final product.
The platform has already passed several beta milestones, allowing users from over 50 countries to share virtual spaces with one another. AltspaceVR has been in open beta as of May this year.
“We’re working hard to make AltspaceVR the most natural and fulfilling way to communicate online, and our new capital will help us get there faster,” said Eric Romo, Founder and CEO of AltspaceVR. “We can’t wait to show our community some of the exciting new things we are building.”
Including last year’s $5.7M funds this latest investment brings the company’s total capital to $15.7M. A clear indicator that the company is successfully illustrating the potential of VR telepresence platforms have in the near future, with consumer virtual reality hardware due to arrive from late this year.