Augmented reality (AR) and virtual reality (VR) company, Torch 3D has announced the success of an initial seed investment round of $3.5 million USD as it looks to launch a platform designed for teams to build, share, and iterate on 3D concepts quickly and easily.
“Torch 3D focuses on the three main challenges to working with interactive 3D – asset management, authoring in the 3D coordinate space, and sharing/gathering feedback,” said Paul Reynolds, founder and CEO of Torch in a statement. “We know firsthand how hard it is for application developers and UX designers to create and iterate on concepts using current production and game-focused tools. We want to make 3D fast and simple and unlock the utility and potential of AR/VR for every industry.”
The seed round was led by The VR Fund and Silicon Valley Data Capital, with additional investors including Seven Peaks Ventures, GVR Fund, Presence Capital, Antipodean Ventures, Jerome Capital, and TWB Investment Partnership.
Using the platform, any designer can start developing and designing in 3D for immersive VR environments almost instantly, with no prior knowledge of game or software development, and can share and iterate on prototypes across teams, on any platform or device, in real time.
“The applications for virtual and augmented reality are numerous and extend far beyond consumer entertainment to address real business challenges in the enterprise,” said Marco DeMiroz, Co-founder and General Partner of The VR Fund. “Immersive technologies have the ability to transform nearly every category and Torch 3D is well positioned to drive broad adoption of VR and AR across new industries.”
Torch 3D was founded by Paul Reynolds and Josh Faust, who previously led Magic Leap’s SDK and Applications efforts, along with veteran cloud and infrastructure entrepreneur Antony Falco. The investment will be used to complete its beta offering for public release and expand its team.
For further updates on Torch 3D, keep reading VRFocus.
Source: Torch 3D Raises .5 Million to Simplify Design for AR and VR Applications