By Evan Smith-DaviesBy Evan SmithDavidsThe startup has raised $5M in a round led by a group led by the venture capital firm Andreessen Horowitz.
The company will use the funds to build a prototype of an app called VR-Hood, which is currently in development with the help of a team of Oculus VR developers and other VR users, according to the press release.
VR-HOOT will let users see VR content that is in front of them, and then move around within it.
It will also allow users to view content in VR that they have previously viewed in real life, like movies, TV shows, or games, the company said.
The team will use VR-HIOD to build out a user interface for the app, which will be able to detect and respond to users’ movements, and to provide navigation instructions and other features.VR-HOOD’s user interface will be built with the new ARKit framework, which allows developers to build apps using a mix of AR and VR technology.
ARKit is a framework that lets developers build apps based on various elements from real-world objects like cameras, sensors, and 3D objects.VR headsets like the Oculus Rift and HTC Vive use AR to project a virtual world into their headsets.
But the technology is still very nascent, and VR headsets like those on the Oculus and HTC are expensive.
It is unclear if VR-hoood will have the same pricing and features as Oculus’ VR-ready headsets, which are priced at $400 and $600 respectively.
The $5m will be used to help pay for the development of VR-Hoood.
VR Studios, a non-profit group dedicated to VR, plans to use the money to help support VR startups and to expand the number of VR studios around the world.VR Studios said it plans to focus on developing VR-based content for both large and small businesses.VR Labs said it has raised about $30M in funding, including the $5 Million in seed funding from Andreessen, and has received $40M in venture capital funding from venture capital firms including Kleiner Perkins Caufield & Byers, Sequoia Capital, and Founders Fund.