NextVR, the leading producer of live VR broadcast solutions, has sealed an $80 million USD B series led by a slew of Chinese investors, as they seek to market their VR broadcasts to Asian viewers.

New investors include China Assets Holdings Ltd., CITIC Guoan Information Industry Co., CMC Holdings Ltd., Netease Inc., Founder H Fund Co. and VMS Investment Group Ltd.

Softbank Corp., the Japanese investment powerhouse and early Alibaba-backer, has also joined the latest round. The $20 million USD investment from CITIC was revealed last month and is part of the current round.

In an interview with the Wall Street Journal, NextVR’s Executive Chairman Brad Allen said that China’s enthusiasm for VR currently surpasses the U.S., and that Chinese consumers view the technology as the next major computing platform.

“Having the support of Asia’s biggest players provides us with significant resources for creating and distributing both local and international content in China, Korea, and Japan,” said Mr. Allen in a release.

NextVR works with a range of broadcast partners to produce VR experiences of live events. Their previous projects include the Kentucky Derby, The U.S. Open, and the Daytona 500, as well as sealing a five year contract with Fox Sports for coverage of various other events. The company also streams NBA games, a franchise that attracts more regular viewers in China than the U.S.

All investors in the U.S.-based VR company’s A round also joined for the B series, including Formation Group, Comcast Ventures and Time Warner Investments. The latest injection brings their total funding to $116 million USD.

Cate is a tech writer. She worked as a journalist in Australia, Mongolia and Myanmar. You can reach her (in Chinese or English) at: @catecadell or

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