Hydra Ventures, the venturing arm of the Adidas Group, has become an investor in 360fly, a Californian company that specializes in single-lens cameras capturing 360-degree videos. Hydra Ventures came on board as part of a Series C round of financing worth $40 million. It joins L Catterton and Qualcomm Ventures, the venture investment group of Qualcomm Incorporated. 360fly says that the latest round of financing will bolster its efforts to expand the global footprint for its 360 degrees cameras, while supporting marketing efforts for its new 4K camera, which is to be launched at retail this month. 360fly is also working on research and development, including integration with products such as Giro and Bell helmets. 360fly focuses on consumer-level, immersive video and mobile virtual-reality products, and it offers mobile live streaming through a partnership with Livit.

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