The latest round brings the total amount raised by the company to US$116 million
NextVR, the leading producer of live VR broadcast solutions, has sealed a US$80 million Series B led by a slew of Chinese investors, as they seek to market their VR broadcasts to Asian viewers.
New investors include China Assets Holdings Ltd., CITIC Guoan Information Industry Co., CMC Holdings Ltd., Netease Inc., Founder H Fund Co. and VMS Investment Group Ltd.
Softbank Corp., the Japanese investment powerhouse and early Alibaba-backer, has also joined the latest round. The US$20 million investment from CITIC was revealed last month and is part of the current round.
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In an interview with the Wall Street Journal, NextVR’s Executive Chairman Brad Allen said that China’s enthusiasm for VR currently surpasses the US, and that Chinese consumers view the technology as the next major computing platform.
“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,” said Mr. Allen in a release.
NextVR works with a range of broadcast partners to produce VR experiences of live events. Their previous projects include the Kentucky Derby, The U.S. Open, and the Daytona 500, as well as sealing a five year contract with Fox Sports for coverage of various other events. The company also streams NBA games, a franchise that attracts more regular viewers in China than the U.S.
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All investors in the U.S.-based VR company’s A round also joined for the Series B, including Formation Group, Comcast Ventures and Time Warner Investments. The latest injection brings their total funding to US$116 million.
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The article NextVR Lands $80M To Tackle Asia first appeared on Technode.
The post NextVR lands US$80M to tackle Asia appeared first on e27.