360fly is bringing VR to you.

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360fly, a US-based company manufactures cameras that allow you to take 360° videos. These videos are some of the VR experiences that even people without VR specific devices can see and feel. The camera allows you to take a full 360° angle shot as if you were recording everything that your eyes see.

The company just raised $40 million in its Series C funding round. Hydra ventures, an investment arm of Adidas, just joined L.Catterton and Qualcomm ventures as investors in 360fly.

Such cameras have been around for some time but consumer viable models have started entering the market only recently. These cameras have been very expensive and tough to build given the component costs. This had put the camera out of the hands of the regular consumer.

Facebook’s 360 camera, ‘Surround 360’ currently costs $30,000. 14 cameras are arranged to form the flying saucer shape. Facebook has open-sourced the code and camera design in order to let developers propose ways to reduce the cost.

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In contrast to these pricey models, 360fly has been able to make its products affordable to the ordinary buyer. Two models from 360fly that are currently on sale, the 360fly HD, and the 360fly 4K are both priced below $1000. The reason for this low cost could be primarily due to their cameras being single-lens. The company also focuses on providing users with new ways to use the camera. Athletes and adventure enthusiasts are two groups of people that really make optimum use of such cameras. Soldiers and pilots have also been uploading their fair share of 360 video content.

Such users need ways to record the video while being able to carry out their activities to the maximum. Helmet & handlebar mounts, as well as adapters for tripods and action cams, are just some of the accessories 360fly has perfected over the years. The start of this year saw 360fly give TechCrunch a sneak peek at their new top and bottom lens fitted drone which is 360 capable and VR-ready.

For companies manufacturing 360 degree cameras, the game is continuously changing and becoming more competitive with new smartphones that have better cameras. Cameras that compare in quality with even professional DSLRs. This is where 360fly is staying ahead of the curve, having mobile apps that enable mobile devices to work seamlessly with their cameras and let users capture, edit, and share amazing video content.

The pioneers of this technology started out in a robotics lab in Carnegie Mellon University. Since then, the company has come a long way and become the industry leader in 360 degree camera technology. The way these cameras will penetrate the market is something that’s very interesting and we definitely look forward to seeing it happen.

Author Bio: Pravir Ramasundaram is our in-house content editor here at ContractIQ. Keep coming back to read more of his articles on mobility & outsourcing.

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