NextVR raises $80M in Series B

What does NextVR do?

NextVR, is a live virtual reality broadcast technology developer. It is a tech company which captures and delivers live and on-demand virtual reality experiences. The company enables long-form, live virtual reality content in broadcast quality- leading the way for on demand and live VR for becoming a mainstream experiences for concerts, sporting events, cinema productons and a lot more. The company has over 26 patents pending or granted for the compression, capture, transmission and display of virtual reality content. The company’s platform enables the totally immersive content to be streamed with great quality using current mobile and home internet connections. The company was founded by veterans in stereoscopic imaging technology, filmmaking and software development categories.

How much NextVR was funded?

The company raised $80 M in Series B on August 9th, 2016 from Time Warner Investments, RSE Ventures, The Madison Square Garden Company, Dick Clark productions, Peter Guber, Comcast Ventures, CITIC Group Corporation and Formation 8.

Previous funding

$30.5 M in Series A on November 11th, 2015 from Formation 8, Time Warner Investments, The Madison Square Garden Company, Comcast Ventures, Peter Guber, Dick Clark Productions and RSE Ventures.

$5m in undisclosed series on September 9th, 2014 from Vectr Ventures.

What is next for NextVR?

The company has raised a total of $116 M to date and the latest funding came mostly from Asian investors and plans to use the funding raised for establishing a global footprint for its concerts, sports platforms and for other live events. The funding will be used for continuing to build its virtual reality platform for meeting the needs of the fanbases arounf music content and live sports. With the Asian investors backing, the company has significant resources for the creation and distribution of both local and international content in Korea, China and Japan.

More about NextVR

NextVR was founded in 2009 by DJ Roller and David Cole. It has its headquarters in Laguna Beach, CA. The company continues revolutionizing how live virtual relaity content will be created and delivered.