Nreal, one of the most-watched blended truth start-ups in China, simply secured$ 40 million from a group of high-profile investors in a Series B round that could possibly bring more adoption to its portable augmented headsets. Kuaishou, the archrival to TikTok’s Chinese version Douyin, led the round, marking yet another video platform to develop links with Nreal, following existing investor iQiyi, China’s own Netflix.
Like other major video streaming sites around the globe, Kuaishou and iQiyi have actually meddled making augmented reality content, and protecting a hardware partner will no doubt be instrumental to their early experiments. Other backers in the round with abundant industry resources consist of GP Capital, which counts state-owned financial holding group Shanghai International Group and major Chinese motion picture studio Hengdian Group as investors; CCEIF Fund, established by state-owned telecom devices maker China Electronics Corporation and state-backed investment bank China International Capital Corporation; GL Ventures, the early-stage fund set up by prominent personal equity firm Hillhouse Capital; and Sequoia Capital China. In early 2019, Nreal brought onboard Xiaomi founder’s venture fund Shunwei Capital for its$15 million Series A funding. As I composed at the time, AR, VR, MR, XR– whichever marketing coinage you prefer– will definitely be a key piece in Xiaomi’s Internet of Things empire. It’s not hard to see the phone titan sourcing wise glasses from Nreal down the road. The other crucial partner of Nreal, a three-year-old company, is Qualcomm. The chipmaker has actually played an active part in China’s 5G rollout, powering major Chinese phone makers’next-gen handsets.
It supplies Nreal with its Snapdragon processors, permitting the startup’s lightweight combined reality glasses to easily plug into an Android phone.”Its closer collaboration with Qualcomm will permit it to access Qualcomm’s network of clients, including telecoms companies, “Seewan Toong, a market consultant on AR and VR, told TechCrunch. Undoubtedly, the blended truth designer has already signed a deal with Japanese telco KDDI and in Korea, it’s dealing with LG’s cellular carrier LG Uplus Corp.
The most recent round brings Nreal’s overall raise to more than$70 million and will speed up mass adoption of its mixed truth technology in the 5G age , the company stated. It remains to be seen how Nreal will live up to its guarantee, safe and secure users at scale and move beyond being a simple poster kid for tech giants’mixed reality ambitions. Far its deals with huge telcos are in a way reminiscent of that of Magic Leap, which has been in a legal spat with Nreal, though the Chinese business appears to burn through less cash so
far. The struggling American business is presently rotating to counting on business consumers after failing to crack the consumer market.”Nreal is patient and not in a rush to reveal they can begin offering high volume. It’s attempting to show that there’s a user scenario for its technology,” said Toong. Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.