Investors are piling in to virtual reality (VR) at a rare old rate, with NextVR the latest startup to raise a significant funding round.

The company has trousered $30.5m of series A funding, led by Formation 8 with participation from Comcast Ventures and Time Warner Investments – media backing for one of the companies operating in the re-energised VR space – as well as the Madison Square Garden Company.

The involvement of the latter is directly related to NextVR’s focus: it streams live events to people with VR headsets and apps, including sporting matches and concerts.

Its technology was recently used to broadcast a basketball match involving the Golden State Warriors and the New Orleans Pelicans, but clearly there is potential to broadcast music concerts in a format that *could* be more immersive than pure video streaming.

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