Live streaming VR company NextVR officially announced its Series B round of funding, raising $80 million that should help the Laguna Beach, California-based startup secure the rights to broadcast various live events in VR.
NextVR raised a $30.5 million Series A round in November last year. In July, Chinese investment group CITIC gave NextVR $20 million apparently toward this $80 million Series B round. New investors in the round include CITIC, NetEase, CMC Holdings, SoftBank Corp., VMS Investments Group, Founder H Fund, China Assets (Holdings) Limited, and Spectrum 28. Previous investors also participated in the round, including Formation Group, Time Warner Investments, Comcast Ventures, Stephen Ross’s RSE Ventures and others.