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NextVR scores huge funding round, led by several Chinese firms

At a Google Ventures roundtable on virtual reality the other day, someone pointed out that there hadn’t been much in the way of big investments—thinking more than $10 million—in VR companies recently.

Well, never mind that. Today, NextVR, a Southern California company specializing in the production of big virtual reality events, such as big-time professional sports, announced it has closed an $80 million Series B round of funding with major investments from several Chinese firms. NextVR said all the American VCs that participated in its $30.5 million Series A round last fall also participated in the new round.

“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,” Brad Allen, NextVR’s executive chairman, said in a release. “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.”DT