Time Warner and More Invest $30.5 Million in NextVR

NextVR is a name that many virtual reality (VR) fans will have heard of over the past year. The company has been working in 360 degree content since being founded in 2009, and has this year made strides in livestreaming real events to Gear VR mobile head-mounted display (HMD) owners. This includes the likes of recent political debates and even Oculus Rift creator Oculus VR’s own Oculus Connect 2 developer conference in September. This week NextVR is announcing the completion of a series A round of funding, raising a significant amount of money to help its work.

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The company has raised some $30.5 million USD in funding with the help of some big investors. These include Time Warner Investments, Comcast Ventures, Peter Guber, RSE Ventures, The Madison Square Garden Company and dick clark productions. This dwarfs the previously raised $5.5 million that the company had and will go towards helping NextVR deliver its platform on all major HMDs including the likes of the Oculus Rift, PlayStation VR, and HTC Vive. No release date has been revealed for these versions, although the HMDs themselves are yet to launch.

“NextVR is at the forefront of a transformative technology that is revolutionizing how live-action content will be consumed,” Scott Levine, Managing Director, Time Warner Investments, said of the news.  “We are thrilled to be a part of an experience that consumers will really love and excited about the opportunities ahead.” Levine will also join NextVR’s board as an observer.

VRFocus will continue to follow NextVR’s work closely, reporting back with the latest from the company.

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