NextVR confirmed today that the company has received $20 million in funding from a Chinese investment firm as a part of an upcoming Series B raise.
The news surfaced earlier this week on Variety after regulatory documents from CITIC Group Corp. were discovered. The $20M is just a slice of the Series B raise; Variety reports that NextVR is looking to raise $80 million at a $800 million valuation.
In an email, a company representative confirmed the investment from CITIC, while also detailing that the company “will announce additional investment partners soon and provide more information then.