Survios Raises $4 MillionTuesday, May 20, 2014
Survios, a virtual reality lab in Los Angeles, has raised $4 million in a Series A financing round led by Menlo Park’s Shasta Ventures.
The Wall Street Journal, which first reported the financing, said other partners in the round included Renata Quintini of Felicis Ventures in Palo Alto and Gen Isayama of World Innovation Lab in Japan.
Survios plans to launch its first product in mid-to-late 2015. Its current prototype features virtual-reality goggles manufactured by Oculus VR, the Irvine company bought by Facebook earlier this year in a $2 billion deal.
Though details are being kept under wraps, the company has developed motion sensors that virtual-reality game players can strap to their arms and legs, along with hand-held controllers that allow users to wield virtual weapons.
“Our core focus is going to be how all of these components come together to create a truly immersive user experience that can be applied to a lot of industries and a lot of different categories,” Survios co-founder James Iliff told the Journal.
Iliff founded Survios with Nathan Burba while both were students at USC’s Institute for Creative Studies. The pair created a simulated reality project called “Project Holodeck” in the school’s Mixed Reality Lab. Oculus VR founder Palmer Luckey worked with Iliff and Burba on Project Holodeck.