MasterImage 3D receives $15-million infusion from Samsung Ventures
Tired of watching 3-D movies in theaters? How about watching 3-D films and sporting events on your smart phones — without the glasses?
That’s the vision of L.A.-based MasterImage 3D Inc., a Hollywood company that announced Tuesday that it had received a $15-million investment from Samsung Ventures, a division of the South Korean consumer electronics giant that recently introduced its own 3-D television sets.
The infusion will allow MasterImage to develop new 3-D technology for mobile phones, tablets, PCs and movie theaters, the company said in a statement.
Founded in Seoul in 2004, MasterImage has 20 employees in Hollywood and 100 others around the world. An additional 40 to 50 workers will be hired as a result of the new investment, said Chairman and Chief Executive Younghoon Lee. That would be a welcome boost to Southern California’s post-production sector, which has been hit hard by job losses in recent years.
“Samsung’s investment supports our strong belief that we’ve just begun to realize the impact 3-D will have on consumers,” Lee said in statement. “We are committing this investment to innovation — specifically, to advancing our 3-D solutions for cinema, smart phones, tablets and larger auto-stereoscopic displays. We will continue to build toward our vision of 3-D on every screen.”
Ilseok Yoon, managing director of Samsung Ventures America, said, “Our investment in MasterImage 3D is consistent with our strategy to work closely with established market leaders. The company was early to market with auto-stereoscopic 3-D mobile displays and has built a significant business in 3-D cinema.”
Your guide to our new economic reality.
Get our free business newsletter for insights and tips for getting by.
You may occasionally receive promotional content from the Los Angeles Times.