Series A funding will help introduce new tools for Autodesk Maya, Unreal Engine and more; Arcturus extension aims to make volumetric videos more accessible
Los Angeles, November 16, 2022–(BUSINESS WIRE)–Arturus, the global leader in volumetric video editing and streaming tools, today announces a new $11 million Series A funding round led by Cloudtree Ventures, with investments from Autodesk and Epic Games. The funding is a sign of confidence in the potential of the volumetric video market, which is valued at $21 billion by the end of the decade.
“We see the translation of real human performance as a fundamental building block of spatial experiences, including XR and the metaverse. Our goal is to empower everyone from multinational brands to independent developers with the tools they need to create authentic digital human representations in the metaverse of their choice,” said Kamal Mistry, CEO of Arcturus. ” In this year alone, from Q2 to Q3, we have seen a 270% increase in HoloSuite adoption as more people make the leap from creator to 3D creator.”
Arcturus will continue to develop its flagship platform, HoloSuite, to give content creators the ability to edit live-action 3D performances and stream those files to any screen – including mobile devices and XR platforms. Arcturus will also expand research into new AI tools to improve 3D data collection with fewer cameras and introduce new dynamic lighting and surface options that will improve the quality of volumetric videos. In addition, Arcturus remains committed to inventing new ways to enhance live streaming concerts on digital platforms and offer viewers the opportunity to watch their favorite sports from every angle.
Beyond the planned enhancements to HoloSuite, Arcturus will continue to develop new tools and techniques for the world’s leading 3D creation tools. In conjunction with Arcturus’ real-time 3D codec and editing tools, volumetric video can be used to place people in any virtual world within the Unreal Engine, Autodesk, and Unity ecosystems. This opens up the potential to populate virtual and augmented environments with live-action performances for architects working on new designs, game developers building new worlds, virtual production teams filming in front of LED walls, and VFX teams the digidoubles create, just to name a few.
“Volumetric video tools like Arcturus’ HoloSuite offer artists a fast way to create photorealistic 3D content for countless industries,” said Diana Colella, SVP, Autodesk Media & Entertainment. “We are very excited to help Arcturus expand the potential of their existing tools. By accelerating innovation, we can help users quickly maximize the potential of using 3D animated video in their work and deliver the compelling content the media and entertainment industry demands.”
The new funding will expand existing support and result in deeper interoperability between HoloSuite and Autodesk tools. Artists used to investing time and resources into creating digital humans will have a quicker way to populate a scene with live-action performances.
Arcturus also plans to further expand the accessibility and capabilities of volumetric video within the Unreal Engine. Arcturus’ Unreal Engine tools allow developers to populate virtual production scenes with live-action talent—shot in 3D and in full motion—to create digital humans for VFX, characters for games, and more. Other tools for Unreal Engine 5 are also in development, adding to a custom volumetric video player that was released earlier this year.
“Arcturus tools make it easy for developers to compress, edit and stream volumetric video,” said Alasdair Coull, chief technology officer for special projects at Epic Games. “We’ve seen firsthand how Arcturus’ tools are opening the door to wider use of volumetric video, and we’re proud to be working with Arcturus to further accelerate the development of the technology.”
Driven by the demand for augmented reality, 360-degree live broadcasts, and the growing need for Metaverse content — including personal avatars — volumetric video is expected to grow at a compound annual growth rate (CAGR) of nearly 30% over the next five years. be recorded . Arcturus was founded in 2016 by a team of visionary video experts from companies like Pixar, Netflix, Google, Dreamworks, Uber ATG and others who anticipated this video trend and all saw the changing video landscape. The Series A funding will help Arcturus build out its infrastructure, beginning with increases in R&D, engineering and sales staff.
In addition to Cloudtree, Epic Games and Autodesk, the recent Series A funding includes investments from Susquehanna Private Equity Investments, LLLP and QBN Capital. This is followed by a US$5 million initial seeding round led by BITKRAFT Ventures in 2021. BITKRAFT has announced a second, separate investment in Arcturus alongside NaHCoH3, Craig Kallman and HBSE Ventures.
Arcturus manufactures the tools content creators need to unleash the power of volumetric video for multiple industries. Founded in 2016 by some of the leading storytellers and innovators from transformational organizations such as Pixar, Netflix, Dreamworks, Autodesk, Google and YouTube, Arcturus was ideally placed to build “HoloSuite”, a SAAS post-production platform with industry-leading tools for editing, compression and… Stream volumetric videos. HoloSuite is available now and is compatible with most major 3D creation tools.
Arcturus is currently advising a wide range of clients working to bring volumetric humans to the Metaverse, virtual production and more, while also helping broadcast partners introduce new options to enhance live events.
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