360fly Raises $40M For 360 Degree Camera

Aliso Viejo-based 360fly, which develops a single lens, 360-degree video camera, has raised $40M in a Series C funding, the company said Thursday. The funding was led by L Catterton, Hydra Ventures, and Qualcomm Ventures in the funding. Hydra Ventures is the venture capital arm of adidas Group. According to 360fly, the new funding will go towards expanding its worldwide sales footprint, and a new 4K camera. 360fly is led by Peter Adderton. 360fly's camera is used to shoot 360-degree, immersive videos, and in particular is used in filming virtual reality video content. More information »