Off the wire
• Cambodia to attract up to 8 mln foreign tourists in 2020  • China to use less power in 2015  • Auto industry urges relaxed car purchase restrictions  • Weather forecast for world cities -- Sept. 22  • Chinese VP meets New Zealand, U.S. guests  • Weather forecast for major Chinese cities, regions -- Sept. 22  • China allows int'l banks to issue RMB bonds  • Free park on landfill charges tourists for tickets  • Officials vow Great Wall damage crackdown  • Refugees begin entering Croatia through easternmost hilly areas  
You are here: 　 Home

Chinese media fund invests in virtual reality

Xinhua, September 22, 2015 Adjust font size:

Media and entertainment investment fund China Media Capital (CMC), together with industry players including Disney, have invested 65 million U.S. dollars in Jaunt, a company pioneering cinematic virtual reality (VR).

The deal will give Jaunt resources to create more content and innovate in VR filmmaking, said CMC in a statement on Tuesday.

The series C round of funding will greatly expand Jaunt's global reach, helping make VR the next mainstream content medium, it added.

There is much room for VR technology to be applied in film, television, games, sports, and mobile media, according to the statement.

In recent years, advances in technology and mobile devices have made fully-immersive VR possible and accessible to the masses.

CMC was founded in 2010 as China's first private equity fund for financing media companies, with an initial fund of 2 billion yuan (314 million U.S. dollars). Endi