In May we profiled a Kickstarter project called the Kogeto Dot which was trying to build an affordable Panoramic Video camera attachment for the iPhone to bring panoramic video recording to the masses. They needed to raise $20,000 to get their product built and develop the app.

CEO Jeff Glasse and Co. raised over $120,000, so needless to say, they built the product. It goes on sale this week.

I had a chance to demo the product this evening with Glasse (above). It couldn’t be more straightforward and the good news is that the camera on the iPhone 4S not only works but it produces a 40% better picture due to the capture of 1080p video (over 720p on the iPhone 4).

As you can see in the video above, the video comes out as a circular recording in a standard movie file. The Looker software then uploads the video to a server which then stretches it out into a 360 degree panel. From there you can post to the web or upload to Facebook to share with friends. The movie plays in the Looker App or Flash on the web.

You can pick up the Dot for $79 in four colors starting next week. The Looker App should hit the App store this weekend.