FOVE Eye-Tracking Virtual Reality Startup Raises $11M Series A
FOVE, an eye-tracking virtual reality headset, together with Samsung Venture Investment and Hon Hai has closed an $11 million Series A funding round led by Colopl VR Fund. FOVE will use the funds to speed up its headset manufacturing while Colopl VR will develop content for FOVE.
In 2014, FOVE was launched at Disrupt San Francisco before raising $480,650 from a Kickstarter campaign. The Tokyo based company says that it had difficulty sourcing some components of the head mount display, hence its shipment will be delayed to Fall 2016, though it was originally set to be shipped this month. Yuka Kojima, the CEO and co-founder of FOVE, told TechCruch that they are working hard to beat the timeline.
When FOVE launches its head mounted display, it will face competition from eye-tracking firms like Tobii, SMI and Eye-influence as well as big VR players like Sony PlayStation, Oculus and HTC.
Yuka said that FOVE was interested in licensing its eye-tracking tech to other head mount display companies hoping that it will bring the deals to the market before its competitors. FOVE is also developing a new intellectual property related to eye tracking virtual reality and foveated rendering hoping that it will give the company an additional advantage.
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