Laguna Beach-based virtual reality content maker NextVR Inc. said it has completed an $80 million round of funding, led by a syndicate of Asian technology companies.
NextVR, one of the most-watched companies in Orange County, is developing a VR content guide for consumers delivered through an app or Web portal that aims to become the go-to source for scheduling, calendars and events.
Newly announced investors in the Series B funding round include NetEase Inc., CMC Holdings Ltd., VMS Investment Group Ltd, Founder H Fund and China Assets Holdings Ltd., all of which are based in China, in addition to Japan’s SoftBank Corp. and San Francisco-based Spectrum 28 Capital LLC.
Those investors join CITIC Guoan Information Industry, a state-owned investment firm in China, in the Series B round. CITIC Guoan last month filed documents that showed was providing $20 million of funding for the company.
“With this new funding, we will continue to build NextVR’s virtual reality platform to meet the needs of the world’s largest fan bases around live sports and music content,” said Brad Allen, NextVR Executive Chairman, in a statement.
“Having the support of Asia’s biggest players provides us with significant resources for creating and distributing both local and international content in China, Korea, and Japan,” Allan said.
The Series B funding includes a number of U.S.-based investors and follows a $30.5 million Series A round last November.
