SAN JOSE, Calif., Feb. 17, 2021 /PRNewswire/ -- YBVR, a next-generation XR video distribution platform, today announced a $1.5 million Pre-Series A funding round with participation from Verizon Ventures, Telefonica's Wayra and Tech Coast Angels. The funding will be used to advance the company's technology, build its team and further key partnerships.
With 360-degree streaming, YBVR's video platform significantly enhances the virtual viewing experience. The investment marks a significant inflection point for the company, as it will be able to live stream 8K ultra-high-definition video with next-generation technologies for a premium experience across devices with a sub-second latency.
"We are grateful to our investors for boosting YBVR's growth and scale," said Hector Prieto, Co-founder and CEO of YBVR. "We are committed to our customers and partners, with a focus on monetizing experiential immersive sports and music events to create transformative value and sustainability in society."
Currently used to broadcast events such as Australian Open 2021 in Melbourne, Fan Controlled Football Season 2021 in Atlanta, and Euroleague Basketball F4 in Cologne, Germany, YBVR provides a fully immersive viewing experience for sports fans and concert goers across the world using any connected device. Ultra-low latency allows for viewers to simultaneously select from various camera angles for a personalized spectator experience.
YBVR is able to provide instantaneous streaming through deployment on a previously announced AWS Wavelength with Verizon's 5G Ultra Wideband network. Mobile edge compute provides the bandwidth needed for wireless data transfer from 360-degree cameras to consumer devices, in real time.
"YBVR's immersive streaming platform offers an unparalleled experience to viewers who cannot be present in-person, allowing anyone to access a game or concert in a very real way," said Kristina Serafim, Managing Director at Verizon Ventures. "Verizon Ventures is excited to help support YBVR's growth. With 5G and mobile edge compute, immersive streaming has the potential to transform the sports and entertainment industries."
"New video formats such 8K, VR and 360-degree video are becoming a reality. Telefonica wants to be at the forefront of such technology, which means not only developing new services and video content but also being prepared to invest in startups such as YBVR, with whom we have already produced the first 360-degree immersive musical experience with edge computing technology," said Paloma Castellano, Managing Director of Wayra in Madrid.
During 2021, YBVR will stream more than 300 hours of live international bowling content in partnership with the International Bowling Federation (IBF), allowing millions of fans to actively participate in multiple major bowling events throughout the year, regardless of COVID-related distance and mobility restrictions.
YBVR is re-defining the way fans experience live sports and engage at home, in mobility and in stadium. Even without being in-venue, fans now can experience the magic of 'being there'. YBVR tech enables a new immersive & interactive dialogue with sport fans, especially the new generations. YBVR cloud-based tech empowers sport and music event organizers and right holders with new assets for monetization. Fans can decide when, how, what and with whom to enjoy live streams with premium viewing experience on mobile and other XR devices in real-time. Multi-camera viewing, zero-buffering camera changes, immersive replay and co-viewing are just a few features fans will never want to miss again.
YBVR headquarters are in California with development team in Madrid and commercial presence in Japan and Australia.
Verizon Communications Inc. (NYSE,Nasdaq: VZ) was formed on June 30, 2000 and is one of the world's leading providers of technology, communications, information and entertainment products and services. Headquartered in New York City and with a presence around the world, Verizon generated revenues of $128.3 billion in 2020. The company offers data, video and voice services and solutions on its award-winning networks and platforms, delivering on customers' demand for mobility, reliable network connectivity, security and control.
Wayra is the most global, technological and connected open innovation hub in the world. Wayra is present in 7 innovation hubs in Europe and Latin America with a clear objective: to help startups grow on a global scale. Wayra has a portfolio of more than 400 startups and more than 100 are already working to provide disruptive solutions to Telefónica and its global network of 350 million customers.
Tech Coast Angels (TCA) is one of the largest angel investor groups in the U.S, with over 450 active members, with the Los Angeles network (TCA:LA) boasting over 100 members. Tech Coast Angels actively seeks great startups to fund and for members to join our prolific network.