NetEase participates in Series B funding of VR content provider NextVR

NetEase, Inc. (NASDAQ: NTES) has participated in a USD80 million Series B funding of NextVR, a virtual reality content provider, the company said.

The Series B round allows NextVR to expand its virtual reality platform and global operations. NextVR announced a partnership with Live Nation to deliver A-list performances in VR to fans across the world. NextVR has also broadcasted major sporting events live in VR.

Other investors in the Series B round include CITIC Guoan Information Industry Co. Ltd., China Media Capital, SoftBank Group, Founder H Fund, VMS Investments Group Limited, China Assets, and Spectrum 28.

NetEase, Inc. (NASDAQ: NTES) is an Internet technology company in China. Dedicated to providing online services centered around content, community, communication and commerce, NetEase develops and operates online PC and mobile games in China as well as email services and e-commerce platforms.

NextVR enables the transmission of live, long-form virtual reality content in broadcast quality – leading the way for live and on-demand VR to become a mainstream experience for sporting events, concerts, cinematic productions and more.