EyeSee360, creators of the panoramic video camera 360Fly, has secured a growth capital investment from private equity firm Catterton Partners.
The investment will be used to accelerate market awareness and finalise development of 360Fly cameras, the 360MicroFly smartphone attachment and the 360Fly.com video hosting and sharing service.
Terms of the transaction have not been disclosed.
The 360Fly is a panoramic video camera that allows users to capture and share an interactive 360 degree panoramic video.
The 360Fly camera is shock-proof, waterproof, and has built-in Wi-Fi/Bluetooth functionality.
360MicroFly is a smartphone lens attachment that offers smartphone users the ability to simultaneously record everything around them and share an experience instantly through social media.
"360Fly gives consumers a unique way to capture and share their experience with the world. We believe this technology will change the way people capture, view and share videos. This is an exciting step in the evolution of camera technology," says Tim O'Neil, CEO of EyeSee360. "EyeSee360 and Catterton share a passion and vision for great consumer products and experiences. Catterton is not only an investor, but a strategic partner that will help position 360Fly in the rapidly evolving consumer camera market."
"Two of the strongest consumer trends are consumers seeking more experiences and consumers becoming content creators," says Michael Farello, a partner at Catterton. "We believe the 360Fly product is at the intersection of these trends by enabling consumers to capture and share their experiences in a more distinctive manner than any camera on the market today. The product will also have applications for security, sports broadcasting, and many other industry sectors. We look forward to partnering with the exceptional technical team, executive leadership, and distribution partners as EyeSee360 launches its new breakthrough products later this year."
