TheWaveVR raises US$6m in funding

TheWaveVR, a social virtual reality (VR) platform for music fans, has raised US$6 million in Series A funding.

The round was led by RRE Ventures, with participation also coming from Upfront Ventures, KPCB, Greycroft VR Gaming Tracker Fund and The VR Fund.

Strategic investors in the round included: Giphy CEO Alex Chung; the co-founder of education organisation General Assembly, Matt Brimer; and Andy Ross from the band OK Go. RRE investor, Alice Lloyd George, joins the company’s board.

The new funding takes the total amount raised by TheWaveVR to US$10 million and will allow the company to expand the app’s community tools and port to additional VR platforms. It also coincides with the opening of a new TheWaveVR office in Los Angeles.

TheWaveVR lets users interact at virtual music shows and nightclubs and has the potential to move into new areas. Alice Lloyd George commented: “We’re already seeing users explore it for other experiences, from digital art to narrative storytelling to business meetings.”

Adam Arrigo, TheWaveVR CEO and co-founder said: “We spent last year nailing down the format for these fully interactive concerts and proved people love our experience; this year we’re focused on how that content gets created and shared.”