NGCodec, a cloud video processing company creating low latency codecs for video and interactive VR, announced the closure of an $8 million Series A funding round, bringing their total funds to $15.9 million. Investors in the most recent funding round include Belmore Capital, Xilinx and the National Science Foundation.
Since its founding in 2012, NGCodec has been developing the compressor-decompressor technology optimized for ultra-low latency, high-quality video encoding. Now dialing in on virtual reality, the company has created what it calls Reality Codec, a low delay H.265/HEVC encoder that aims to deliver cloud-rendered VR applications and transmit them fast enough to bring what they call “PC class performance to any head-mounted display.”
The company says their RealityCodec VR streaming technology, which renders 90 frames per second and “scales to meet the increasing resolution and frame rate demands of next generation headsets,” is accomplished by converting video output to compressed video streams for rapid transmission to VR headsets.
“We have worked diligently to bring our advanced video codecs to the Amazon Cloud and to demonstrate the potential for cloud media and virtual reality.” said Oliver Gunasekara CEO and Co-Founder of NGCodec. “Closing our Series A round will propel our technology into the 5G era, bringing our total raised to $15.9M from world-class institutions including Xilinx, Belmore Capital and NSF.”
The company says they’ll be migrating to their upcoming AV1 codec implementation later in 2018 for “even higher compression.”
NGCodec is currently demonstrating their RealityCodec at this year’s CES at the NSF booth in Eureka Park, Sands Expo Level 1 Hall G, Booth Number 50322. We’ve had a chance to talk at length with the company, and will be bringing you a deeper dive into their tech in the coming days.