Immersv Secures $10.5 Million
VR and AR startup Immersv announced it has closed $10.5 million in Series A financing. The round was led by Rogers Venture Partners, with participation from Foundation Capital, The Venture Reality Fund, Initial Capital, East Ventures, HTC Vive, MCJ Co. Ltd., GREE, i-mobile, Metaps, and Gigi Levy.
Immersv is a virtual reality discovery and advertising platform, founded by the team that created the largest app distribution platform on Facebook and then again on iOS and Android. The company uses the strengths of VR to improve mobile advertising, not only on headsets but on smartphones as well.
In its announcement, Immersv said the funding will take the startup to new markets like Asia during the next year, while also doubling the team of 15 to take on more challenges as it scales its product offerings.