August 2, 2017
RTL Group has taken a 15% minority stake in virtual reality firm Inception, after leading the immersive content network’s US$15 million (€13 million) Series A funding round.
RTL said that Inception will provide VR programming, creative, and distribution capabilities to RTL Group thanks to its content network, interactive technology and content making expertise.
“Virtual Reality is a new medium for content and creative ideas, which are at the heart of what we do,” said RTL Group’s vice president, business development and group synergies, Christos Schizas, who joins the Inception board.
“That’s why it is only natural to explore ways of augmenting our total video universe with this new medium. We see clear potential for synergies with our existing portfolio of content production, multi-platform networks and advertising solutions.”
Inception said that the US$15m funding injection will help the company to expand its content catalogue, enhance its technology platform and accelerate growth.
The Israel-based firm launched in October 2016 and has apps for Oculus Rift, Samsung Gear, iOS, Android, Google Daydream and HTC Vive – with Microsoft Windows Mixed Reality and Sony PSVR “coming soon”.
Inception defines itself a “next-generation immersive content network” and was founded early last year by CEO Benny Arbel, CMO Dana Porter Rubinshtein, CCO Effi Wizen, and CTO Nitzan Shenar.
Australian businessman James Packer, Isreali tech investor Gigi Levy-Weiss, and Israeli investment outfit iAngels all also contributed to the Series A funding round.
“VR is an incredible new entertainment medium and a fantastic opportunity for brands and talents to tell their stories and engage their audience as never before,” said Arbel.
“Our unique combination of great technology and content will make VR more accessible and enjoyable for audiences around the world. Together, RTL Group and Inception can play a key role in shaping that experience by combining our expertise in content creation, episodic storytelling, and immersive technology to take audiences to the next level.”