The Virtual Reality Company, a Los Angeles, CA-based producer of VR content, raised $23m as part of a large equity-financing round.
The equity investment was made by Hengxin Mobile Business Co., Ltd., a Beijing-based mobile services and technology provider. Investors in VRC also include Metallica lead singer James Hetfield, Rothenberg Ventures, and Elementum Ventures.
The funds will be used to produce original virtual reality content and distribute its content in the greater China region.
Founded and managed by director Robert Stromberg (Chief Creative Officer), entertainment industry executive Guy Primus (CEO), Christopher Edwards and and Joel Newton, VRC is a producer of VR content, including the tentpole VR experience, The Martian VR, a 20-minute interactive and immersive journey created for the 20th Century Fox Innovation Lab.
The company already has several projects on its slate, including an original family-oriented VR program created with VRC advisor and shareholder Steven Spielberg.