Video conferencing startup Owl Labs raises €24 million
Owl Labs, one of the first companies to build 360-degree video conferencing solutions, recently received €24 million ($25 million) in investment.
The round of Series C investment also coincided with the announcement of a strategic partnership with HP. To date, Owl Labs has secured over €45.6 million ($47 million), with HP Tech Ventures, the venture capital arm of HP Inc. leading the most recent round. Additionally, Angelo Del Priore, Partner at HP Tech Ventures, joined Owl Labs’ board of directors. Other participants in this investment round include Matrix Partners, Spark Capital, and Playground Global, as well as the company’s strategic partner Sourcenext.
Owl Labs has suggested it will put the investment towards product development of models like the Meeting Owl product line, its first AI-powered, 360-degree camera, microphone and speaker.
Another product highlight is the Whiteboard Owl, a camera that can add an in-room whiteboard to video conferencing events. Meanwhile, Meeting HQ is a computer and control centre specially built for video conferencing.
The partnership with HP will see the two companies collaborate on growth, along with investments in hardware and software offerings. HP will also help Owl Labs expand its global footprint and market partnerships, with a new, recently-announced commercial agreement between Owl Labs and HP France.
“Investing in Owl Labs aligns with HP’s strategy to deliver more inclusive and immersive hybrid work solutions to our customers,” said Angelo Del Priore, Partner at HP Tech Ventures.
“We have been impressed by Owl Labs’ spirit of innovation and ability to disrupt. We see a bright future for Owl Labs as secular trends in hybrid work provide fertile opportunities for continued innovation, disruption, and growth.”
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