Entrypoint, the New York startup that helps content creators create interactive VR content, raised $2 million in a round of seed funding.
According to a report, the investment round was led by Samsung NEXT, the venture capital arm of the South Korean electronics giant, and Two Sigma Ventures. Other participants in the round included Indicator Ventures, KBS Ventures, Galvanize Ventures, Social Starts, Female Founders Fund and Virtual Reality Investments.
The founders declined to provide technical details about how the platform works, which is launching this summer, but Doyle did say the backbone of the platform’s functionality is WebGL, an API that lets web browsers display interactive 3D and 2D graphics without the need for plugins. Once the video is finished, the user gets a URL, which eliminates the need for viewers to download mobile applications to watch the video.
“We think it’s really unwise for companies to expect users to hear about these apps, download them and keep them on their phone,” said Carissa Flocken, the company’s CEO, in the same report. Colin Beirne, a managing director at Two Sigma, said in the report that the startup is the “perfect company for right now because they’re enabling more and more people to experience VR content.”