TheWaveVR Raises $2.5M to Launch First Social VR Music Platform
Virtual reality (VR) startup TheWaveVR announced today that is has closed a $2.5 million seed funding round. The money will be used to build what it’s billing as the first social VR music platform, enabling people to view, host and socialize in live shows around the world, no matter where they are. It is slated to launch later this year.
Investors participating in the round were venture capital firms KPCB Edge, Presence Capital, Rothenberg Ventures, RRE Ventures, The VR Fund and Seedcamp and angels including Mike Fischer (ex-CEO Square Enix North America) and Joe Kraus (of GV, formerly Google Ventures).
“Music creators will be able to fully customize how their audience experiences the music — whether that’s by transforming the venue from a realistic nightclub to outer space or putting on the most unimaginable light show ever,” said Adam Arrigo, CEO of TheWaveVR, in a statement. “Fans won’t have to travel the globe or miss out on their favorite DJs, musicians or festivals and can experience the music like never before, while socializing in totally new ways alongside their friends.”
Based in Austin, TX, and Los Angeles, TheWaveVR is staffed by veterans of the music, VR, design and game industries from companies such as Harmonix, Q-Games, Portalarium and Unello Design.
TheWaveVR will be mounting a VR Rave at the Virtual Reality Los Angeles Expo (VRLA) on August 5–6 in partnership with SubPac, Skullcandy, PhaseSpace and 3DLive. It will have DJs performing wearing HTC Vive headsets, and select attendees wearing positionally-tracked Gear VR headsets and SubPacs (subwoofer vests). The DJs will be performing in front of a giant 3D screen, so attendees not outfitted with VR headsets can also sample the virtual experience.
TheWaveVR also announced today that it has added David Wexler (a.k.a. Strangeloop), audio-visual artist and founder of Strangeloop Studios in Los Angeles, and Dave Haynes, a former SoundCloud VP and current head of business development for Seedcamp, as advisors.