Laguna Beach-based virtual reality startup NextVR Inc. raised $30.5 million in a Series A funding round that included a mix of sports- and entertainment-related firms.
The round was led by San Francisco-based Formation 8, which was co-founded by Brian Koo, an early investor and board observer in Oculus VR Inc., a virtual reality company that had its headquarters in Irvine until its $2 billion sale to Menlo Park-based Facebook Inc. last year.
Koo will take a seat on NextVR’s board.
Other backers included Time Warner, Comcast Ventures, RSE Ventures, Madison Square Garden Co., Dick Clark Productions and prior investor Peter Guber.
Guber, the founder and chief executive of Mandalay Entertainment and minority owner of the Los Angeles Dodgers and Golden State Warriors, chairs NextVR’s advisory committee.
NextVR recently streamed Republican and Democratic presidential debates. The production was part of an effort to carve out a niche in live event VR coverage by partnering with news outlets and professional sports leagues.
The company, established in 2009, has raised $35.5 million.
