TheWaveVR secures $6M for its social VR platform

The virtual reality startup TheWaveVR has raised a grand total of $6 million for its social music and visual arts platform of the same name. 

The investment comes just after TheWaveVR ran an experience mirroring a scene from the recent movie Ready Player One, something the company partially thanks for the amount of investor attention its funding round was able to pull in.

Interestingly enough, the company also pitched a number of venture capital firms on investing in meetings held within virtual reality environments created with its Wave Builder tool, even going as far as to sign the series A term sheet in VR.

Now with $10 million raised during its lifetime, this latest $6 million is slated to help TheWaveVR expand its app’s community tools and eventually bring TheWaveVR itself to other VR platforms.

The round itself was led by RRE Ventures and saw additional contributions from Upfront Ventures, KPCB, Greycroft VR Gaming Tracker Fund, The CR Fund, Giphy CEO Alex Chung, General Assembly cofounder Batt Brimer, OK Go guitarist, keyboardist, and vocalist Andy Ross, among others. 

“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 TheWaveVR CEO and co-founder Adam Arrigo in a statement. “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.”