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Epic Games invests in $11M venture round for cutting-edge video editing tech firm

CARY – Epic Games continues its pursuit of cutting-edge technology to help build a metaverse and more life-like video games with an investment in Los Angeles startup Arcturus Studio.

The startup’s flagship platform is called HoloSuite and is designed to ” further empower content creators with the ability to edit live-action 3D performances, and stream those files to any screen – including mobile devices and XR platforms.”

Epic, which has raised billions in its own efforts to create a metaverse virtual world, also has invested in other various emerging technologies to augment the capabilities of its game development engine Unreal . It’s one of the world’s most popular.

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“Arcturus’ tools make it easier for creators to compress, edit and stream volumetric video,” said Alasdair Coull, chief technology officer of special projects for Epic Games. “We’ve seen firsthand how Arcturus’ tools are opening the door to broader utilization of volumetric video and we are proud to partner with Arcturus to continue to accelerate the evolution of the technology.”

Arcturus is focused on what’s called “volumetric video editing” as well as streaming tools.

“Volumetric filmmaking combines the artistry of cinema with the interactivity of gaming, and uncovers visuals beyond the limits of traditional media. It is the evolution of content for a digital age where audiences seek connection,” says New York-based Scatter.

Arcturus raised $11 million in the new round.

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“The funding is a sign of confidence in the potential of the volumetric video market, which is estimated to reach $21 billion by the end of the decade.,” the company says.

Cloudtree Ventures led the round. Other investors include Autodesk.

“We see the translation of true human performance as a fundamental building block of spatial experiences, including XR and the metaverse. Our goal is to give everyone from multinational brands to independent creators the tools they need to create authentic digital human representations in the metaverse of their choice,” said Kamal Mistry, CEO of Arcturus. “This year from Q2 to Q3 alone, we’ve seen a 270% increase in the adoption of HoloSuite, as more and more people are making the jump from creator to 3D creator.”

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  • Source: https://wraltechwire.com/2022/11/18/epic-games-invests-in-11m-venture-round-for-cutting-edge-video-editing-tech-firm/

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