How the Virtual Reality Company will use $23 million in fresh funding

Data from VBProfiles shows that Q1 2016 saw the largest amount of investments in the VR landscape in the last five quarters. Compared to the same period of time last year, the budding industry has seen four additional investments and almost $588M more in funding — an increase of over 120 percent.  (Disclosure: VB Profiles is a cooperative effort between VentureBeat and Spoke Intelligence.)

Now, adding sizzle to the Q1 VR investment high, the Virtual Reality Company (VRC) announced that it raised nearly $23 million in a new round of investment made by Hengxin Mobile Business, a Beijing-based mobile services and technology provider, securing a platform for VRC for the distribution of its content in China.