Aug 03, 2017: Boeing has invested in C360 Technologies, a Pittsburgh-based company focusing on 360° video and augmented/virtual reality. It is the most recent investment by Boeing HorizonX's venture arm established, and the first in a company headquartered in the rising Pittsburgh tech market.
"Our C360 investment is a powerful example of how HorizonX can access rapid advances in innovation outside aerospace and bring them to our Boeing customers," said Steve Nordlund, Boeing HorizonX vice president. "Putting additional capital to work and linking C360's innovators with our Boeing teams allows us to accelerate new solutions, while providing new market access for C360. It's a win-win — especially for our customers."
Possible aerospace applications of C360's ground-breaking video technology include proficient autonomous systems and other superior platforms.
Boeing joins a group of investors led by BlueTree Capital making up C360's $3.5 million oversubscribed series, a fundraising effort that also includes contributions from MI-12 and Pasadena Angels.
"Boeing's support for the growth of C360 Technologies is a testament to the capabilities of the company's platform technology and founding team. We are very pleased with this partnership opportunity," said Catherine Mott of BlueTree Capital Group.
C360 Technologies focuses on linear and over-the-top (OTT) broadcast quality video solutions and has established itself as a chief player in the VR/AR industry. Lately, the technological developments of C360 were featured as part of FOX Sports' telecasts of the 2017 Daytona 500 and MLB All-Star Events. Besides FOX Sports, which first debuted C360 technology during its telecast of Super Bowl LI, C360 has established relationships with top media networks and sports leagues including CBS Sports, ESPN, TNT, NASCAR, NFL, NHL and UFC.
"Since the inception of our company, we've been fortunate to work with some of the best organizations in the world, integrating C360's technology into sports telecasts viewed by international audiences," said Evan Wimer, CEO of C360 Technologies. "It's extremely gratifying that Boeing HorizonX has recognized our contributions within the sports broadcasting industry, and at the same time envisions how C360 could be utilized in future Boeing applications. We're confident that Boeing's investment into C360 will propel and inspire us to further advancements in the 360 VR/AR industry."