Wave builds virtual concert experiences that have featured artists such as John Legend and The Weeknd, offering immersive live events for artists and fans. The company has struck a partnership with Tencent Music Entertainment Group (TME) under which Tencent takes a minority stake. As part of the deal, TME will air Wave experiences across QQ Music, Kugou Music, Kuwo Music and WeSing and collaborate to integrate Wave into TME Live production. Wave plans to use the partnership to bring Western artists on virtual tours in China and to extend its virtual environments into Tencent’s gaming ecosystem. The collaboration also aims to unlock alternative revenue streams for artists—such as in-stream tipping, gifting and merchandising—which are more established in Asian live-streaming markets. Wave’s CEO Adam Arrigo described the move as a step toward enabling global virtual tours and deeper artist monetization through new modalities. Wave develops software and hardware to enable live, virtual reality concerts. The company is based in Los Angeles and is led by CEO Adam Arrigo. On June 10, 2020, Wave said it raised $30 million in a Series B funding round. The Series B was led by Maveron Ventures and Griffin Gaming Partners. The round also included angel investors Alex Rodriguez and Scooter Braun. The article does not disclose operating metrics, past rounds, or a founding year. TheWaveVR builds a persistent, festival‑style virtual reality music app where DJs perform live sets and users teleport around large, stylized venues. Its Wave Builder feature lets users import 3D models, animations and made‑in‑VR content to craft visual experiences that accompany performances. The company has pursued high‑profile activations — including a major SXSW Ready Player One VR concert featuring Warner Brothers IP and a live DJ set — to showcase the format. Leadership says product focus for the year is on how content is created and shared across the platform. TheWaveVR is maintaining a lean cost structure and aims to preserve cash to weather several more years of VR market development amid slower headset sales. Financially, the company completed a $6M Series A and has raised $10M in total to date. TheWaveVR operates a social VR platform that lets users view, host and socialize in virtual music shows worldwide. Music creators can customize how audiences experience performances, while fans can enjoy DJs, musicians and festivals and socialize with friends in VR. The company released a beta on Steam Early Access for PC. Led by CEO Adam Arrigo, TheWaveVR is using its product to connect music fans and creators in novel, immersive ways. The recent financing will be applied to continue expanding the company’s technology platform and capabilities. TheWaveVR builds a social VR platform that lets users experience live music performances together in immersive, customizable virtual venues. The product emphasizes real-time interaction between audience avatars and onstage artists, including gestures like raising a digital lighter and artist reactions. The company positions itself as a “musical metaverse,” enabling creators to alter venues from realistic nightclubs to fantastical spaces and to stage elaborate digital light shows. Early product-market fit is expected in EDM due to the prominence of visual light shows in performances. TheWaveVR envisions private concerts, jam sessions among friends, and shared attendance at major artists’ shows across the globe. The company, led by CEO Adam Arrigo, is six months old and based in Austin, and has begun public testing with events such as a “silent rave” at the VRLA conference in Los Angeles.

Total raised

$43M

Funding rounds

5

Latest round

Series B

Latest activity

Jun 2020