The company says that it will use the funding to expand its content catalogue, enhance its technology platform and accelerate growth.

Consumers can discover and experience global VR content on Inception’s app, including original programming created with publishers and rights owners, channels of serialised interactive content and curated third-party content. Launched in October 2016, Inception has apps for Oculus Rift, Samsung Gear, iOS, Android, Google Daydream and HTC Vive, with Microsoft Windows Mixed Reality and Sony PSVR coming soon.

The company was founded in early 2016 by CEO Benny Arbel, CMO Dana Porter Rubinshtein, CCO Effi Wizen, and CTO Nitzan Shenar.

“VR is an incredible new entertainment medium and a fantastic opportunity for brands and talents to tell their stories and engage their audience as never before,” Arbel said. “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 our expertise in content creation, episodic storytelling and immersive technology to take audiences to the next level.”