Israeli VR company Inception raises $15 million led by RTL Group

VR firm Inception, based in Israel, has raised $15 million in a Series A round led by European media network RTL Group, which has interests in dozens of TV and radio stations around the continent. Other participants in the round include James Packer, Gigi Levy-Weiss, and iAngels.

The new funds will be used to expand the company’s content catalogue and technology platform as well as accelerate growth.

Inception designs apps for Oculus Rift, Samsung Gear among others and works with publishers and rights owners to develop original VR programming.

“Together, RTL Group and Inception can play a key role in shaping that experience by combining our expertise in content creation, episodic storytelling, and immersive technology to take audiences to the next level,” said Benny Arbel, CEO of Inception on the Series A round.

RTL Group’s portfolio of content may inform future content released through Inception, said Christos Schizas, vice president of business development and group synergies at RTL: “Inception’s experience and entrepreneurial spirit will match perfectly with our tradition and capabilities.”