Wave, the social VR platform and virtual music venue, today announced a $30 million Series B funding round, putting its total funding to $40 million to date.

The funding round was led by Maveron with participation from Griffin Gaming Partners. Additional investors include Japan’s NTT DOCOMO Ventures, Avex, Superfly Ventures, Convivialite Ventures, and Raised in Space. Existing investors include RRE Ventures, Upfront Ventures, The Venture Reality Fund, GFR Fund, and GC Tracker Fund, among others.

Entrepreneurs Scooter Braun, Alex Rodriguez, Superfly co-founder Rick Farman, and Twitch co-founder Kevin Lin also participated in the company’s Series B.

Wave puts a heavy emphasis on virtual dance parties and concerts, which comes part and parcel with immersive visualizations and mind-bending locales that simply wouldn’t be possible outside of VR.

Since its founding in 2016, the platform has hosted over 50 artists including Imogen Heap, REZZ, Jean-Michel Jarre and Lindsey Stirling. Wave’s most recent One Wave concert series included artists such as John Legend, Tinashe, Jauz, and Galantis.

The company says it’s using the funding to “further fuel [its] ability to go beyond traditional live streaming and serve the next generation of concert-goers.”

The company says the investment will also allow it to create more personalized artist avatars, new virtual environments and formats, and interactive experiences, including “in-game activations and social experiences at the nexus of gaming and entertainment.”

SEE ALSO
John Legend, Tinashe to Play Live Shows in Social VR Platform 'Wave'

Wave is a free app that supports SteamVR headsets via Steam and Oculus Rift via the Oculus Store.

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  • dTCrass

    Maybe, but only with the real performers there. You make this avatar based and it’s going to fail. I don’t see body capture in real time fueling any sort of meaningful performance if it’s just 3D renders of an avatar that looks like the performer.

    • guest

      and what uncanny looks!

  • gothicvillas

    I like Wave but all their concerts are US time zone (I’m UK), duringvl the 2 years I have this app, I have only seen couple things which are available offline. Imogen Heap was nicely made but unfortunately there haven’t been a single addition like this.

  • sfmike

    Meh…

  • adsf

    The wave is great for getting real artist and putting on real shows that tap into their artistic side. In an era where virtual concerts are actually needed cause of lockdown, im happy to see them growing.

  • Well deserved. The funding I guess is also because of covid, that has increased the interest towards virtual events