Russian investor Yuri Milner backs American cloud graphics firm Otoy
Cloud graphics firm Otoy has bagged a fourth financing round from Russian tech investor Yuri Milner. Morgan Stanley chief John Mack also contributed to the funding. The amount raised by Otoy has not been disclosed, according to VentureBeat.
Autodesk, George Gilder, Roddenberry Trust, and Taylor Frigon also participated in the said round. Otoy will use the new capital to commercialize its suite of cloud-based content creation tools, the report detailed.
The Los Angeles-based company designed a technology that has become a main ingredient in the creation of 3D content from games and movies. Right now, it is being used in creating visual effects in Hollywood. The said technology allows creators to generate very realistic character and environments without the use of a supercomputer, the report explained.
Otoy founder and Chief Executive Officer (CEO) Jules Urbach said: "This round of funding enables the next phase of our business strategy: commercializing our offerings to give more businesses and users around the world a chance to experience the phenomenal impact Otoy technologies can have on their work... What we've done so far is just the tip of the iceberg. We have some tremendous innovations in store."