Torch 3D Announces $3.5 Million Seed Investment to Simplify Design for Augmented and Virtual Reality Applications
PORTLAND, Ore. (PRWEB) October 17, 2017 -- Torch 3D, the augmented and virtual reality prototyping platform, has raised an initial seed investment round of $3.5 million to make it fast and easy for teams to build, share, and iterate on 3D concepts. With Torch 3D, any designer can start developing and designing in 3D for immersive VR environments almost instantly, with no prior knowledge of game or software development, and can share and iterate on prototypes across teams, on any platform or device, in real time.
The seed round is led by The Venture Reality Fund and Silicon Valley Data Capital, who bring deep experience in 3D computing, enterprise products, machine learning, and big data. Additional investors include Seven Peaks Ventures, GVR Fund, Presence Capital, Antipodean Ventures, Jerome Capital, and TWB Investment Partnership. Torch 3D was founded by Paul Reynolds and Josh Faust, who previously led Magic Leap’s SDK and Applications efforts, along with veteran cloud and infrastructure entrepreneur Antony Falco. The financing will be used to complete its beta offering for public release and expand its team.
“Torch 3D focuses on the three main challenges to working with interactive 3D - asset management, authoring in the 3D coordinate space, and sharing/gathering feedback,” said Paul Reynolds, founder and CEO of Torch 3D. “We know firsthand how hard it is for application developers and UX designers to create and iterate on concepts using current production and game-focused tools. We want to make 3D fast and simple and unlock the utility and potential of AR/VR for every industry.”
“The applications for virtual and augmented reality are numerous and extend far beyond consumer entertainment to address real business challenges in the enterprise,” said Marco DeMiroz, Co-founder and General Partner of The Venture Reality Fund. “Immersive technologies have the ability to transform nearly every category and Torch 3D is well positioned to drive broad adoption of VR and AR across new industries.”
“Torch 3D’s data-driven approach reduces the prototyping and design phase of 3D app development from days to hours. Their fully functioning alpha product is already attracting the interest of large-scale enterprises,” said Jim McLean, Managing Partner at Silicon Valley Data Capital. “Torch’s platform will capitalize on the possibilities deep learning and analytics bring to design. We’re looking forward to helping Torch to break the 3D design market wide open and bring AR/VR to the masses.”
Torch 3D is now accepting inquiries for its Early Access beta program and expects to open access to the platform to the public in early 2018. To learn more and receive updates, visit http://www.torch3d.com. You can also follow them on Twitter at https://twitter.com/hellotorch and on Medium at https://medium.com/hellotorch.
About Torch 3D
Torch 3D is an augmented and virtual reality company that is making it possible for any designer or enterprise to unlock the potential of 3D applications. Its initial offering is a collaborative, cross-platform 3D design application that allows anyone to upload, prototype, and collaborate in 3D, on any device, in real time. Torch was founded by Paul Reynolds and Josh Faust, who built out Magic Leap‘s SDK team and offerings, and veteran cloud infrastructure entrepreneur Antony Falco. It is backed by The Venture Reality Fund ("The VR Fund"), Silicon Valley Data Capital, Seven Peaks Ventures, GVR Fund, Presence Capital, Antipodean Ventures, Jerome Capital, and TWB Investment Partnership. The company was founded in January 2017 and is based in Portland, OR. To learn more, visit http://www.torch3D.com.
Jennifer Lankford, Lankford Communications, +1 503-308-2553, [email protected]
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