Lucid VR Raises $2 Million, Partners With Wistron to Manufacture World's Only 3D 180-Degree Virtual Reality Camera

Pocket-Sized LucidCam Captures 3D VR Video as Your Eyes See the World and Shares It Instantly

SAN FRANCISCO, CA--(Marketwired - Apr 13, 2016) - Lucid VR announced today that it has received $2.1M in seed funding and has signed a partnership agreement with Wistron Corporation, a top five global ODM based in Taiwan. The maker of LucidCam, the pocket-sized VR camera which captures 3D 180-degree videos to be watched instantly on mobile phones using Google Cardboard or any VR headsets, has received investments from Wistron, S2 Capital, Lab360, TEEC Angel Fund, 17 Miles Technology as well as other angel investors. The funding coupled with the Wistron manufacturing agreement provides the means for Lucid VR to bring its one-of-a-kind, affordable 3D VR camera to mass production.

"LucidCam brings people together across the world by capturing incredible immersive experiences in VR, the same way as your eyes see them, and which can be easily shared with friends and family within seconds," said Han Jin, co-founder and CEO, Lucid VR. "With our relationship with Wistron we will be developing a beautifully designed and engineered camera that is going to surpass our original plans. We are very excited to announce that we will be upgrading our backers with a first production version of the LucidCam with double the resolution and frame rate, in addition to extended battery capacity. The viewing experience in VR headsets will be so much smoother with 2K and 60 frames per second."

LucidVR successfully crowdfunded its first round of production cameras in December 2015, with the cameras now to be produced by Wistron Corporation and delivered in the latter half of 2016. For the first time, anyone can easily capture amazing 3D spherical videos and images with the simple touch of a button.

LucidCam leverages binocular lenses to create true depth and peripheral vision while utilizing two microphones -- essentially mimicking human eyes and ears. A multi-camera setup with three LucidCams enable 360° 3D capture.

Wistron Corporation is one of the top five ICT ODMs and a global Fortune 500 company with $20B revenue and more than 60,000 employees worldwide. "We are very excited and happy to be working on LucidCam together," said Jin. "We will be bringing a remarkable VR camera with great immersive videos to life."

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Erica Zeidenberg