The XR (extended reality) video platform will accelerate the deployment of immersive 360-degree streaming with 5G and edge computing capabilities.
Madrid, February 17, 2021 - YBVR, the next-generation XR (extended reality) video distribution platform, today announced $1.5 million in pre-Series A funding with participation from Verizon Ventures, Telefónica's Wayra, and Tech Coast Angels. This funding will be used to enhance the company's technology, build its team, and foster key collaborations. With 360-degree streaming, YBVR's video platform significantly enhances the virtual viewing experience. The investment marks a major turning point for the company, enabling it to stream live 8K ultra-high-definition video using cutting-edge technologies for a high-quality experience across all devices and sub-second latency. "We are very grateful to our investors for driving YBVR's growth," said Héctor Prieto, co-founder and CEO of YBVR. "We are committed to our clients and partners, with a focus on monetizing immersive experiences at sporting and musical events to create transformative value and generate sustainability in society." YBVR, which currently broadcasts events such as the 2021 Australian Open in Melbourne, the 2021 Fan-Controlled American football season in Atlanta, and the Euroleague Basketball F4 in Cologne, Germany, provides a fully immersive viewing experience for sports fans and concertgoers worldwide using any connected device. Ultra-low latency allows viewers to simultaneously select multiple camera angles for a personalized experience. YBVR is able to deliver an instant live signal via AWS Wavelength with Verizon's 5G ultra-wideband network. Mobile edge-computing technology provides the necessary bandwidth for wireless data transfer from 360-degree cameras to viewers' devices in real time.
"YBVR's immersive streaming platform offers an experience “It offers unparalleled access to viewers who can’t be present at the event, allowing anyone to experience a game or concert in a truly immersive way,” says Kristina Serafim, CEO of Verizon Ventures. “Verizon Ventures is thrilled to support YBVR’s growth. Thanks to 5G and mobile edge-computing technology, immersive streaming has the potential to transform the sports and entertainment industries.” "New video formats, such as 8K, virtual reality, and 360-degree video, are becoming a reality. Telefónica wants to be at the forefront of this technology, which means not only developing new video services and content but also being willing to invest in startups like YBVR. Wayra first invested in the startup in 2018, and together we have already produced the first immersive 360-degree music experience using edge-computing technology," highlights Paloma Castellano, director of Wayra Madrid. During 2021, YBVR, in collaboration with the International Bowling Federation (IBF), will broadcast more than 300 hours of live international content, allowing millions of fans to actively participate in multiple bowling events throughout the year. year, regardless of the distance and mobility restrictions imposed by COVID-19.
About YBVR
YBVR is redefining how fans experience live sports and engage at home, on the go, and at the venue itself. Even without being physically present, fans can feel the magic of "being there." YBVR's technology enables a new, immersive, and interactive dialogue with fans, especially with younger generations. YBVR's cloud-based technology allows sports and music event organizers and rights holders to access new assets for monetization. Fans can decide when, how, what, and with whom to enjoy live broadcasts with a premium viewing experience on mobile and other XR devices in real time. Multi-camera viewing, buffer-free camera switching, immersive replay, and co-viewing are just some of the features that enthusiasts won't want to miss. YBVR is headquartered in California, with a development team in Madrid and a sales presence in Japan and Australia.
About Verizon
Verizon Communications Inc. (NYSE, Nasdaq: VZ) was incorporated on June 30, 2000, and is one of the world's leading providers of technology, communications, information, and entertainment products and services. Headquartered in New York with a global presence, Verizon generated revenues of US$128.3 billion in 2020. The company offers data, video, and voice services and solutions on its renowned networks and platforms, meeting the demand.
About Wayra (Telefónica)
Wayra is the entrepreneurial initiative that is part of Telefónica's Open Innovation program, the most global, technological, and connected in the world. It has seven Wayra Hubs, spaces in nine countries in Latin America and Europe through which it invests in and supports startups; Wayra X, a digital hub for investing in 100% digital startups; Wayra Builder, a corporate venture builder for creating innovative startups born from Telefónica's internal technology projects alongside other investors; and Wayra Next Trend, a window into digital innovation, showcasing trends and innovative applications. Furthermore, through the Wayra Activation Programme, it offers entrepreneurs exclusive and free access to new technologies through Telefónica's own platforms. More than 500 of the startups in which Telefónica has invested are part of its Open Innovation program, and more than 130 are doing business with the company. More information available atwww.wayra.com
About TCA
Tech Coast Angels (TCA) is one of the largest angel investor groups in the United States, with more than 450 active members, and the Los Angeles network (TCA:LA) has more than 100 members. Tech Coast Angels is actively looking for great startups to fund and members to join their prolific network.