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NextVR secures $30.5 million funding

NextVR secures $30.5 million funding

NextVR, a specialist in live-action virtual reality broadcast technology, has secured $30.5 million in funding from Comcast Ventures, Formation 8, Time Warner Investments, Peter Guber, RSE Ventures, The Madison Square Garden Company and dick clark productions.

Michael Yang, managing director and Gavin Teo, principal, Comcast Ventures, said that NextVR has already demonstrated the power of live VR for sports such as basketball, soccer, hockey, and golf amongst others.

“The NextVR team is the best in the business to tackle this opportunity because they have a deep technical team that understands the challenges of transmitting these experiences into VR and the right business team that knows how to engage with broadcasters and rights holders,” the pair said in a statement.

Brad Allen, executive chairman of NextVR, said: “Comcast Ventures has been a fantastic partner to work with, bringing together for us their key executives from the Comcast NBCUniversal network to explore all the possibilities with their marquee content for virtual reality.”

NextVR is Comcast Ventures’ second virtual reality investment following social virtual reality software company, AltspaceVR.


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