Worth 800 Million! NextVR Company Receives $80 Million U.S. Dollar Financing

As early as the beginning of July, foreign media broke news that CITIC Guoan invested $20 million in NextVR. Now, it is reported that the company focused on VR sports broadcast has completed the B round of 80 million US dollars of financing, removing 20 million US dollars Guotai Guoan, Chinese Cultural CMC and its micro-whale VR also successful participation. It is reported that NextVR's valuation after this round is 800 million U.S. dollars!

Follow VR Live NextVR

In fact, the news that NextVR obtained B round of 80 million U.S. dollars financing has been exposed by foreign media as early as a month ago. However, it is not expected that the country is now officially exposed to news. In the NextVR company B round of 80 million US dollars, the investment from China not only has CITIC Guoan, as well as CMC Chinese culture and its micro-whale VR, although the latter did not disclose the figures, but it is estimated to be quasi tens of millions of dollars.

The NextVR, which has been following VR Sports Live, has been extremely successful in financing in the past two years. In November of last year, the company successfully completed A round of financing of US$30.5 million. The investors are Formation 8, Comcast and Time Warner. NextVR's investors include Peter Gruber, a partner of the Golden State Warriors, the Los Angeles Dodgers, and Madison Square Garden. These big companies in the sports and entertainment industry will provide endless opportunities for NextVR's VR video. The media groups such as Comcast and Time Warner clearly saw the potential of VR live streaming, so they also made a lot of money to enter.

China Capital West China Cultural Layout VR Content

With the rise of VR, many Chinese capitals not only invest in domestic VR teams, but also look overseas. CMC Chinese culture last year participated in a $66 million Series C round of investment by JauntVR, and established Jaunt China with its microwhale VR and SMG. This time participating in NextVR, it is the company’s accumulated experience and experience in VR events. At present, Micro-Whale VR is making a VR video live broadcast. It is believed that with the help of NextVR, high-quality VR broadcast will enter China.

CITIC has also had plans for VR. At the beginning of this year, Storm Mirror announced that it had obtained financing of 230 million yuan in B round, including CITIC. The choice to invest in NextVR is also a preemptive occupation of a high-quality VR team. According to CITIC Guoan, investing in NextVR will allow the company to “quickly enter the VR space.”

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