Report: NextVR raises US$20m from China’s CITIC Guoan

NextVR, a company that specialises in virtual reality live-event streams, has reportedly raised US$20 million from Chinese investment group CITIC Guoan.

According to a Variety report, CITIC bought Class B shares representing 2.3% of NextVR’s total equity, with the deal part of a planned US$80 million round that will value the firm at US$800 million.

NextVR raised US$30.5 million last November in a funding round led by venture capital firm Formation 8, which also included backing from Comcast Ventures and Time Warner Investments.