Voxx Makes $3M Investment In EyeSee360Hauppauge, N.Y. - Voxx International has made a $3 million investment in EyeSee360, the developer of the panoramic video camera 360Fly and the 360MicroFly smartphone attachment. 4/24/2014 05:30:00 AM Eastern
Hauppauge, N.Y. - Voxx International has made a $3 million investment in EyeSee360, the developer of the panoramic video camera 360Fly and the 360MicroFly smartphone attachment.
Both products were launched in the Voxx booth during International CES in Las Vegas this past January.
Voxx said in a statement that this latest investment in EyeSee360 is in addition to an earlier capital investment by Catterton Partners, both of which will support the company as it brings the 360Fly line of panoramic action cameras to market this year.
As previously announced in January Voxx Electronics, a wholly owned subsidiary of Voxx International, signed an exclusive distribution agreement with EyeSee360 to deliver a line of proprietary panoramic video cameras and software.
The 360Fly and 360MicroFly are compact, lightweight, 360-degree HD lifestyle products that will enable both consumers and professionals to “capture and share personal experiences like never before,” Voxx said.
The 360Fly is mountable on a variety of different sports equipment from helmets to surfboards to a tiny tripod for the center of a table. The 360MicroFly is a 360-degree lens attachment for Apple and select Android phones.
"In line with our stated strategy, we have continued to invest in new and exciting technologies and categories that will help drive growth for our company and support our core electronics business," said Pat Lavelle, president and CEO of Voxx International. “The initial response from our distribution partners has been very strong and we believe that we and EyeSee360 have highly competitive products that will help shape the future of the consumer's technology experience.”
Tim O'Neil, CEO of EyeSee360 said the investment by Voxx, “as well as the exclusive distribution partnership for the 360Fly line of panoramic video cameras clearly demonstrates the faith that Voxx has in our design and engineering capability and we are excited to have them as both an investor and marketing partner."
Lavelle concluded, "Making a financial investment in EyeSee360 allows us to participate not only in the success of the 360Fly line of cameras, but in future products and technologies yet to be developed by their company, as well. We look forward to building upon this partnership and we believe it will help top and bottom line performance and growth for our company."