Virtual concert startup thewavexr has raised $30 million including investments from scooterbraun, Alex Rodriguez, and more.
The company will use the investment to go beyond concerts and into the broader entertainment experience space, including gaming and social. The round also included NTT DOCOMO Ventures, Avex, Superfly Ventures, Convivialite Ventures and Raised in Space. Wave, which has raised $40 million to date, counts RRE Ventures and Upfront Ventures as existing investors.
"I want to work with today's most forward-thinking leaders in music and technology," said Braun, the music manager who works with artists including Ariana Grande and Justin Bieber."The future of the industry depends on it. Adam and his team at Wave are bridging these two very important industries to create transformative experiences for the next generation of concert-goers, with a refreshingly artist-first approach.
Virtual concerts are becoming popular, especially as live festivals and shows have been canceled in the wake of the coronavirus pandemic. Epic Games, maker of, has been a key driver of the trending, hosting a 2019 concert with DJ Marshmello that drew more than 10 million people. In April, rapper Travis Scott made headlines for performing a show viaWave, which plans to expand into Japan and China, hosted its most recent show on June 5 featuring the digital avatar of singer Tinashe.
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