Fyusion Closes $13M Venture Round Led by NEA and UTEC

SAN FRANCISCO, April 2, 2015 /PRNewswire/ -- Fyusion, developer of new surround-view digital technology, today announced that it has raised $13.0 million in Series B funding led by New Enterprise Associates (NEA) and The University of Tokyo Edge Capital (UTEC), with participation from notable angel investors.

Fyusion's mobile photo app platform Fyuse produces images that enable users to navigate beyond the fixed angle and perspective of traditional mobile photography. Fyuses, as these evolutions of the photograph are called, are built to capture the space around a moment, enabling exploration of multiple angles within a single shot. Transcending traditional photo and video experiences, Fyuse is on the bleeding edge of computational photographic technology. 

"Photography hasn't seen any fundamental advancements since the 1980s when photographs were first digitized," said Dr. Radu B. Rusu, CEO and co-founder of Fyusion. "We are helping build the next generation of the web by introducing a new approach for capturing and storing visual data, allowing the user to have a 3D view of any scene, person or product. There are endless applications for our technology and rapidly increasing adoption in the fashion and consumer goods industries. This investment provides Fyusion with resources to continue to develop our user experience to drive further adoption of our product."

"There's now no doubt that virtual and augmented reality are at the verge of a revolution," said Greg Papadopoulos, venture partner at NEA. "The world is comprised of objects—not images—and for the first time we are able to teach computers about their surroundings based on the principle of objects. Fyusion has democratized access to 3D technology and invented an incredibly compelling way for everyone to creatively capture and explore the reality around us."

How It Works
Fyusion launched its first application Fyuse, a mobile photo social app for iOS and Android, in late December. Built on Fyusion's underlying spatio-temporal platform that leverages advanced sensor fusion and computer vision algorithms, Fyuse's photography technology is fundamentally changing the way visual experiences are captured and shared. By using Fyuse, users can provide an interactive view of any subject.  

Users
The platform is rapidly growing in users who are exploring the frontier of digital photography. The unique technology in Fyuse allows users to capture a moment from multiple angles, thus providing additional visual context rather than a moment from a single perspective. This distinction from other mobile photography applications has made Fyuse a trending topic on social media. Already the most searched photo/video app in a number of international markets, Fyuse has been adopted by vanguard musicians such as Katy Perry, J*Davey, and Kittens — amongst others, who are looking for new ways to express their creativity with innovative visual media formats. Fyuse has also been a favorite among fashion designers such as Kerby Jean-Raymond and Camelia Skikos, who used Fyuse at their presentations during New York and Los Angeles Fashion Week; as well as several brands in industries such as e-commerce, fashion and automobiles.

Growth
The new financing will enable Fyusion to further accelerate its rapid expansion, innovation and product development, as well as broaden its audience. The Fyusion technology can be used to showcase products in a futuristic photographic format that has yet to be used.

About Fyusion
Based in San Francisco, Fyusion is on a mission to fundamentally change the definition of photography. The company's breakthrough technology generates deeply immersive "surround view" images that fuse the capabilities of a traditional photo, a panorama, motion capture and 3D to create a more complete, captivating photography experience. Co-founded by a team of leading PhD experts in computer vision, robotics and machine learning; Fyusion has released its first commercial app Fyuse for iOS and Android. Freeze time and explore space with Fyuse at: www.fyu.se

CONTACT: Kelsie Axelrod, (415) 692-0172, [email protected]

SOURCE Fyusion

Related Links

http://www.fyusion.com

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