I am a big fan of water and water effects in games (which is why I was so happy to see Pippin Barr's water museum earlier this year). That's why I'm surprised I haven't looked into Water Planet [official site] before now. I'm watching a dev log video and the phrase "cybernetic jellyfish" has been used already!
Water Planet sounds like it's a game that's maybe also a music video set. The description lays out a single-player first-person adventure where you "Gather resources to fuel an interstellar ship as your on-board A.I. Gemini guides you through sunken ruins and ocean depths while listening to the music of VIRGO."
That's the trailer ▲▲ and this is the dev log video I mentioned ▼▼
If there's one thing which concerns me it's how static the jellyfish seems but it might be a placeholder. Given the water effects and how they try to convey fluidity it would be weird to have such stiff arms and tentacles or a static bell (unless that's something explained by the cybernetic element?).
There's more information about the game in this article on Vice's Creators Project from a year ago and another that's more recent.
Plus photos from the Water Planet VR showcase at the Institute of Contemporary Art, Miami from a few days ago - I really like the sculptural elements!
According to the Steam info the game is due out in Q3 2017, so any time before the end of September unless disaster strikes. It's for both desktop and for VR headsets.
Let's finish with a video from Wired about how jellyfish move: