TheWaveVR Raises $6M For Virtual Reality Music Platform
TheWaveVR, a social virtual reality platform for music and visual arts experiences has closed a $6 million Series A funding round led by RRE Ventures along with Upfront Ventures, KPCB and the Greycroft VR Gaming Tracker Fund.
Strategic investors in the round include Andy Ross from OK Go; Alex Chung, co-founder and CEO of Giphy; and Matt Brimer, co-founder of General Assembly and Daybreaker. Alice Lloyd George, investor at RRE, joins the company’s board.
The startup, which also announced the addition of an LA Office, has raised $10 million to date.
This funding round follows a collaboration with Warner Bros. that brought to life the dance club scene from Steven Spielberg’s new action adventure “Ready Player One”, in theatres now. Through TheWaveVR app – available on Steam in the U.S. – fans can immerse themselves in the dance party scene with specially designed avatars, iconic 80s visuals and music, and experience the ability to fly in VR.
“The VR ecosystem is approaching a tipping point with the release of ‘Ready Player One’. With hardware prices coming down, stand-alone headsets like Oculus Go and Vive Focus on the horizon, and developers discovering best use cases, VR is on a sure path to become mainstream,” said Adam Arrigo, TheWaveVR CEO and co-founder. “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.”