RTL Group Invests in VR Firm Inception

RTL Group has become the largest investor in the Series A financing round of Inception, specialized in virtual reality entertainment, and will hold a 15-percent stake in the company.

Inception raised $15 million in Series A funding. Additional participation in the funding round came from leading investors James Packer, Gigi Levy-Weiss and iAngels. The company was founded in 2016 by a team led by serial tech entrepreneurs Benny Arbel and Gigi Levy-Weiss. Inception will provide VR programming, creative and distribution capabilities to RTL Group with its combination of a next-generation content network, innovative technology in the areas of interactivity and user experience, as well as content creation expertise.

Christos Schizas, the VP of business development and group synergies at RTL Group, will join Inception’s board of directors.

Schizas said: “Virtual reality is a new medium for content and creative ideas, which are at the heart of what we do. That’s why it is only natural to explore ways of augmenting our total video universe with this new medium. We see clear potential for synergies with our existing portfolio of content production, multiplatform networks and advertising solutions. Inception’s experience and entrepreneurial spirit will match perfectly with our tradition and capabilities.”

Arbel, Inception’s CEO, commented: “VR is an incredible new entertainment medium and a fantastic opportunity for brands and talent to tell their stories and engage their audience as never before. Our unique combination of great technology and content will make VR more accessible and enjoyable for audiences around the world. Together, RTL Group and Inception can play a key role in shaping that experience by combining their expertise in content creation, episodic storytelling and immersive technology to take audiences to the next level.”