NextVR Gets $30.5M For Virtual Reality Broadcasting

Laguna Beach-based NextVR announced this morning that it has raised $30.5M in a Series A funding, to help extend its virtual reality broadcasting technology. The funding was led by Formation 8, and also included Time Warner Investments, Comcast Ventures, Peter Guber, RSE Ventures, The Madison Square Garden Company, and Dick Clark Productions. Brian Koo of Formation 8 will join the company's board with the funding, with Time Warner Investments' Scott Levine joining as an observer. NextVR is developing virtual reality broadcasting technology, which provides live broadcasts of content and so far has been used for live events from NBA, NHL, NASCAR, CNN, and the band Coldplay. More information »