TechTaffy

tech:

taffy

The Virtual Reality Company raises $23 million to create original VR content

By TechTaffy Desk

The Virtual Reality Company (VRC), a Los Angeles-based VR production company, has raised $23 million in equity financing. The equity investment was made by Hengxin Mobile Business, a Beijing-based mobile services and technology provider, that will also be providing VRC a platform for the distribution of its content in the greater China region. VRC says it will use the funds toward producing more original virtual reality content.

Founded and managed by two-time Academy Award-winning director Robert Stromberg and entertainment industry executive Guy Primus, VRC is a producer of VR content, including the tentpole VR experience for the movie The Martian. Investors in VRC include Metallica lead singer James Hetfield, Rothenberg Ventures, and Elementum Ventures. Upcoming VRC projects include a family-oriented VR program created with VRC advisor and shareholder, Steven Spielberg.

Just in

Around the web

Windows 11 Start menu ads are now rolling out to everyone — The Verge

Microsoft is starting to enable ads inside the Start menu on Windows 11 for all users, writes Tom Warren. 
Around the web

Biden signs TikTok ‘ban’ bill into law, starting the clock for ByteDance to divest it — The Verge

President Joe Biden signed a foreign aid package that includes a bill that would ban TikTok if China-based parent company ByteDance fails to divest the app within a year, writes Lauren Feiner.
IT

IBM to acquire HashiCorp for $6.4B

IBM and HashiCorp have entered into an agreement for IBM to acquire HashiCorp, a provider of infrastructure and security management products, for $6.4 billion.
AI

OpenAI introduces new enterprise features

OpenAI announced new features aimed at enterprise users on Tuesday, at the wake of Meta's recent LLama 3 announcement.
Around the web

Oracle is moving its world headquarters to Nashville to be closer to health-care industry — CNBC

Oracle Chairman Larry Ellison said Tuesday that the company is moving its world headquarters to Nashville, Tennessee, to be closer to a major health-care epicenter, writes Ashley Capoot.