Lytro Raises $40 Million
Lytro is a camera startup that has raised $40 million in a new round of funding. This round of funding was led by new investor North Bridge Venture Partners with participation from Andreessen Horowitz, New Enterprise Associates, and Greylock Partners.
Lytro will be using the funding to build new hardware. Lytro launched a single model of their light-field camera two years ago and has launched several new features through software updates since then such as the ability to view 3D images from any picture taken with a Lytro camera.
“With the first generation of Lytro, there were just a lot of things to be figured out and understood and done,” stated Lytro CEO Jason Rosenthal. “What you should see from us is just a faster pace of innovation than we have been able to accomplish before.”
Earlier this year, Lytro had to lay off some executives. However, the company has been hiring new talent for the last couple of months as they prepared to raise the funding.