It’s possible you’ll recall Rylo from this time final yr, when the imaging startup launched a artistic tackle the 360 digital camera. The corporate’s been pretty quiet within the six months because it launched some new software program methods, however a brand new spherical of funding ought to assist the corporate take some key steps towards spreading the gospel.
This week, Rylo introduced that it has secured a $20 million Collection B, led by Icon Ventures. That brings its whole as much as $35 million, with assist from Accel Companions and Sequoia Capital. Plans for the funding are just about what you’d anticipate.
“Securing Series B funding from this excellent group of investors will allow us to maximize our potential for growth and earn significantly more market share,” CEO Alex Karpenko stated in a launch tied to the information. “We have come a long way since our launch one year ago, and I’m excited to continue to drive Rylo’s growth through investments in marketing, sales and retail partnerships in the coming year.”
Rylo’s digital camera represents an fascinating piece of tech that makes use of 360 movies to create some unorthodox digital camera methods like stabilizing pictures, following topics and creating a lot of fascinating results. The product additionally has stable distribution with greater than 500 retail places within the U.S., together with Finest Purchase.
Advertising, nevertheless, goes to be a be key for the success of the $499 digital camera, whose preliminary attraction shouldn’t be as instantly obvious because the likes of GoPro.