Having previously invested in Tesla, Coinbase, Hotmail, Ethereum, Robinhood and SpaceX, Draper has a proven track record in backing industry disruptors and trailblazing entrepreneurs. Tim Draper joins Magnetic 3D as the company gears up for growth in immersive "holographic" media solutions that do not require 3D glasses or VR headsets.
NEW YORK, Nov. 29, 2023 /PRNewswire-PRWeb/ -- Magnetic 3D, a leading innovator in producing "Holographic" Glasses-Free 3D displays and immersive media solutions, is pleased to announce a Seed investment from Tim Draper and Draper Associates, a global venture capital firm investing in industry-transforming companies.
In connection with Magnetic 3D's participation in the hit web-reality series, "Meet the Draper's: Season 5" and following a track through Draper University's Fundamentals of Entrepreneurship, Magnetic 3D secured funding from Tim Draper - known for his visionary investments in great founders and disruptive technologies.
The Problem: 3D has proven itself to be a superior medium for captivating audiences, capturing attention, and delivering unparalleled engagement for more memorable experiences. However, distributing glasses or wearing VR headsets has been a barrier to adoption limiting 3D's everyday use for more than 100 years. Magnetic 3D believes 3D glasses and VR headsets must become optional for rich 3D experiences to become practical for mass adoption.
The Solution: The Company has solved this age-old problem by creating game-changing products that essentially "wear the 3D glasses" instead of the viewer. Magnetic 3D's Glasses-free 3D technology is embedded in the device (instead of on the viewer's head) and scales from phones to 100" LCD displays and even to large format video walls, allowing images to appear to float in mid-air and offering depth perception and motion parallax like a hologram.
Armed with proof that the tech provides 10-20X more engagement than 2D print or digital media, Magnetic 3D plans to deploy thousands of 3D signs that generate more attention and impact for brands where they need it most. The platform will elevate customer experience and provide new sources of revenue for venue partners while offering a new 3D canvas for immersive artwork to come to life as seen at Scope in the video above.
Tim Draper, Founding Partner of Draper Associates, expressed his enthusiasm: "Having Magnetic 3D on Meet the Drapers was a lot of fun – the 3D content is amazing and it really pops off the display and floats in midair! I am excited to be a part of their journey, and love the elegant spin of the device wearing the glasses instead of the viewer - makes perfect sense! Magnetic 3D's Glasses-Free 3D platform has the potential to transform various industries - from retail, to advertising and marketing, to healthcare and education. Once it's out there at scale everyone is going to have to have it to keep up. The team's commitment to push the boundaries of immersive tech for enterprise applications while charting a path directly to consumers with art and entertainment is a novel approach that should be a powerful combo."
Magnetic 3D's Founder & CEO Tom Zerega also commented on the investment: "We are honored to have Tim Draper join us on our mission to make 3D, XR, and the Metaverse more accessible without having to wear 3D glasses or VR headsets. Tim has always been ahead of the curve by betting on the future and we take his support as a great indicator that we are on the verge of something monumental. His extensive experience and vision will be invaluable as we continue to develop and deploy our immersive solutions."
Magnetic 3D has gained a strong foothold in B2B with great customers and a track record of success in 3D Pro AV and 3D Digital Signage installations over the years. The Company has worked with major theme parks, hospitality, and cruise ship operators, defense contractors, aerospace, and medical customers and produced countless experiential activations from CES to Super Bowl. Now, the Company is poised to accelerate its expansion into media networks while driving innovation in the immersive technology space.
About Tim Draper:
Tim Draper is a prominent venture capitalist and founder of Draper Associates, a leading investment firm known for its early investments in transformative technologies. He has a long history of identifying and supporting innovative companies that disrupt industries.
About Draper Associates
Founded in 1985 by Tim Draper, Draper Associates is the leader in early-stage venture capital that continues to invest in technology companies that show exceptional promise. The firm's investments have included Coinbase, Baidu, Tesla, Skype, SpaceX, Twitch, Hotmail, Focus Media, Robinhood, Carta, and other industry unicorns at the early stage. Draper Associates has built a reputation for encouraging entrepreneurs to drive their businesses to greatness, to transform industries with new technologies, and to build platforms for extraordinary growth, jobs, and wealth creation. Send plans to [email protected]. To learn more, visit www.draper.vc
About Magnetic 3D
Headquartered in New York City, Magnetic 3D (http://www.magnetic3d.com) enables greater access to the world's 3D content and the metaverse with an industry-leading, end-to-end product line of Glasses-free 3D (autostereoscopic) solutions ranging from Desktop 28" monitors to 100" 3D Displays in Landscape and Portrait format, as well as 3D Video Walls. The Company's proprietary platform of modified LCD displays features a precision engineered, optically-bonded 3D lens and custom electronics which enable 3D video capabilities without the need for 3D Glasses or VR/AR Headgear. The visual experience provides audiences with captivating off-screen "pop", akin to holographic 3D effects depicted in science fiction films, and the immersive perception of depth on what would otherwise be a flat display. Magnetic 3D provides the highest-quality glasses-free 3D visual experience for B2B applications across verticals such as retail, digital signage, gaming, digital out of home advertising, Pro AV, Smart City, IOT, hospitality, movie theaters, casinos, hotels and entertainment venues. Magnetic 3D also provides 3D visualization solutions and consulting services for aerospace, medical, defense and immersive art installations where depth perception is required.
For more information please contact:
Tom Zerega
Founder & Chief Executive Officer
Magnetic 3D
450 Lexington Avenue, 4th Floor
New York, New York 10017
Phone: 877-225-8950 x 102
Email: [email protected]
John Bracciante
Chief Operating Officer
Magnetic 3D
450 Lexington Avenue, 4th Floor
New York, New York 10017
Phone: 877-225-8950 x 107
Email: [email protected]
Media Contact
Tom Zerega, Magnetic 3D, 1 8772258950 102, [email protected], www.magnetic3d.com
John Bracciante, Magnetic 3D, 1 8772258950 107, [email protected], www.magnetic3d.com
SOURCE Magnetic 3D
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