Engineers at Columbia University have designed and created a bendable camera, which among other things, can take 360-degree photos. The camera is actually an array of small lenses and sensors. What makes the camera work is that the lens is made of a flexible material, so that when the array is bent, the flexible lens matches its focal length to the curvature of the array.
One way the camera can be used is to wrap it around a cylindrical object such as a light pole. When so wrapped, the camera can capture an image from all directions, i.e., a 360-degree photo.
Here is the official website, and here is a video explaining the camera: