Jaunt, the leading company in pioneering cinematic virtual reality (VR) today, has announced in a press release that it has raised an additional $65 million from its series C funding.
The investors include companies like The Walt Disney Company, Evolution Media Partners and China Media Capital.
Jaunt said in the press release that the new investors will help them expand their global reach and provide significant resources and relationships.
The funding of the new investors will help make VR the next mainstream content medium.
The latest round of funding provides Jaunt with the resources to significantly enhance its VR production and improve its professional-grade camera hardware and software production tools, according to the press release.
The enhancements allow Jaunt to deliver content to the widest array of mobile devices and VR hardware in the industry.
Jaunt also said in the press release that they plan to use the additional resources to fund their expansion and growth.
The company plans to grow their team in their headquarters in Palo Alto and in their new studio in Los Angeles.
Jens Christensen, the co-founder and CEO of Jaunt, said in the press release that this latest round of funding shows the company's "commitment and dedication."
He said that they are committed and dedicated to "advancing the scope of cinematic VR - for filmmakers, storytellers, and audiences alike."
He adds in the press release that with the help of "these world-class companies, we will explore new avenues, building on our leadership position to deliver amazing VR experiences using best-in-class tools, technology, and creative teams."
The Wall Street Journal adds that the $65 million investment is among the largest funding rounds in VR.
The latest investment brings Jaunt's funding to about $100 million.
The Wall Street Journal also adds that traditional media companies are hoping that VR will provide them with a new source of sales for their content.
Others, though, believe that VR technology has a chance to be the next main source of content, joining TV, radio and film.
Disney said in a statement that VR has "incredible potential across all sectors of entertainment," according to The Wall Street Journal.
Robert Iger, the CEO of Disney, wrote in 2014 that "one of the most exciting development" he sees coming in the "horizon is technology that will immerse" people "into entertaining worlds."
The Wall Street Journal adds that the VR technology will be facing its mainstream moment over the next year.
Virtual headsets from Sony Corp, HTC Corp and Facebook's Oculus unit will be releasing their virtual-reality headsets to the public over the next year.
