Baidu Ventures of Baidu Inc announced on Feb 14 that it has joined a $27 million series B funding round for 8i, a US-based VR company. This is the first investment Baidu Ventures has made since it was established in September 2016.
The round is led by Founders Fund, Samsung, Time Warner Investments, Baidu Ventures and Verizon Ventures among others. Baidu has not disclosed the amount of its investment or its stake.
Baidu Ventures focuses on artificial intelligence, virtual reality and augmented reality projects. 8i, founded in 2014 and headquartered in Los Angeles as well as Wellington, New Zealand, provides a media platform enabling users to create, experience and share 3-D videos. The company will put out a new app named Holo later this year, which will allow users to view and interact on mobile terminal equipment.