NextVR, the company, aiming to establish a place in the Asian market has amassed $80 million through a series of recent investments.

Among the most prominent Asian investors that have since invested in NextVR are China Assets Holdings, CITIC Guoan Information Industry, Netease, CMC Holdings, VMS Investment Group, and Founder H Fund. Notable Japanese investment firm Softbank also joined the latest round of funding for NextVR.

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In an interview with the Wall Street Journal, NextVR executive chairperson Brad Allen said that China's interest in virtual reality has surpassed that of the United States. "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," Allen said.

NextVR is known for its platform that broadcasts live events in virtual reality experience. Among the projects covered by the company are the United States Open, Kentucky Derby, and Daytona 500. The company has also signed a five-year deal with Fox Sports allowing the firm to offer virtual reality coverage of important sporting events. NextVR also streams NBA games, a market that has amassed more regular viewers in China compared to the United States.

According to Variety, NextVR is planning to use the money it has raised to further expand its coverage into the mainstream market. Moreover, NextVR is also planning to improve its infrastructure and develop newer technologies that will enhance its service.

TagsNextVR, Virtual Reality, VR, NextVR news, virtual reality asia, Asia, VR asia, NextVR asia