The Pasadena Angels, a nonprofit entity founded in 2000 that invests in early-stage start-up ventures, has invested in C360 Technologies, a Pittsburgh-area virtual reality company that creates 360-degree video solutions for broadcast.
Pasadena Angels, along with Boeing’s HorizonX Ventures, MI-12 Ventures and Blue Tree Allied Angels, invested a total of $3.5 million in an oversubscribed Series A funding round last Wednesday, C360 Technologies Inc. announced. An oversubscribed round includes more investment than was originally projected.
A spokesperson for C360 said the company originally projected new investments of $2.5 million during the round.
Investment from this round will be used to develop advanced features like C360 replay applications, additional camera controls and video insertion for virtual reality and augmented animation, the company said.
C360’s proprietary processes are now in broadcasts by Fox Sports, CBS Sports, ESPN, TNT, NASCAR, the National Football League and the National Hockey League.
C360 Technologies develops 360-degree video and virtual reality content that does not require multi-headed cameras or “stitching,” which involves arranging multiple photos into one cohesive image.
The company also credits itself for having the industry’s smallest pro-grade immersive camera, according to its website. An immersive camera can shoot 360-degree video for use in virtual reality applications.
Pasadena Angels, founded in 2000, offers start-up ventures the opportunity to benefit from the knowledge and expertise of over 100 investor members that include successful entrepreneurs, technologists, sales and marketing professionals, internet technology leaders, finance specialists and attorneys.
Pasadena Angels investor members typically provide up to $750,000 thousand in early-stage financing and seed money to emerging ventures located in Southern California. The members also lead funding rounds and cooperate with venture capital firms and other angel investment groups to support companies that seek to raise amounts greater than $750,000.
For more information about Pasadena Angels, visit www.pasadenaangels.com.