Virtual reality is one of the hottest topics in all of sports technology these days. One of the leading companies in this burgeoning field is NextVR, which is currently looking to raise another investment round to continue their growth as a virtual reality sports content broadcaster. Their current plan is to raise $80 million for a Series B round, and they have secured an investment from Chinese Investment group CITIC Guoan for $20 million. The deal will give CITIC Guoan direct connections to the leading technology and personnel in the VR sector as well as 2.3% of NextVR’s total equity. This now seals NextVR’s valuation at $800 million, according to Variety.
CITIC Guaon obtained Class B shares that represent 2.3% of NextVR’s total equity.
Once you have a Samsung Gear VR headset, you first need to download and open the NextVR app onto your Samsung smartphone. You then insert your phone into the Gear VR headset and the app will have options of what to view. (It is also suggested to be connecting to Wi-Fi to get the best quality.)
With the Gear VR only costing $99, it makes it one of the most affordable ways to experience sports in virtual reality.