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NextVR secures $80 million investment in live VR broadcasts

A second funding round pours additional capital into a company that's already broadcast concerts, sporting events and a presidential debate in virtual reality.

Lori Grunin/CNET

Investors are pouring $80 million into NextVR, a Laguna Beach company that specializes in live virtual-reality broadcasts.

The company's past VR broadcasts include live concerts, sporting events like the Home Run Derby and the US Open golf tournament, and even a presidential debate last fall. Expect to see even more after this influx of cash, as NextVR works to establish a foothold in virtual broadcasting.

Along with capital from a number of new Chinese investors, this second round of funding includes all investors from NextVR's first round, which saw names like Time Warner Investments, RSE Ventures and Dick Clark Productions pour $30.5 million into the business in 2015.