Laguna Beach-based virtual reality content maker NextVR Inc. said it completed an $80 million round of funding led by Asian technology companies.
The company 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 round include NetEase Inc., CMC Holdings Ltd., VMS Investment Group Ltd., Founder H Fund and China Assets Holdings Ltd., all based in China, in addition to Japan-based SoftBank Corp. and San Francisco-based Spectrum 28 Capital LLC.
They join CITIC Guoan Information Industry, a state-owned investment firm in China, in the Series B round. CITIC Guoan last month filed documents showing it was providing $20 million to 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 NextVR Executive Chairman Brad Allen 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,” he said.
The Series B funding also includes a number of U.S.-based investors that led a $30.5 million Series A round last November.
—Mark Mueller
