Wave, an entertainment technology company that turns performers into digital avatars and puts them on virtual stages where they can entertain and interact with fans, announced a $30 million series B fundraise on Wednesday.

The L.A.-based company has now raised $40 million total.

Live performances typically comprise upwards of 70% of musicians' incomes. With in-person shows shuttered amid the coronavirus pandemic, the music industry has been embracing new ways to generate revenue and drive fan engagement. Wave represents one such channel.

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Our second Virtual Pitch Showcase was devoted to startups in the gaming industry. Founding entrepreneurs from Artie, Squab Gaming and RCT Studio pitched to Peter Levin, managing director at Griffin Gaming Partners and Gregory Milken, managing director at March Capital Partners.

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