Chinese language AR glasses startup Nreal introduced it’s raised a contemporary $100 million Sequence C financing spherical, one thing it says can be used for R&D and to fund wider worldwide enlargement.
As first reported by CNBC, the newest spherical reportedly brings the corporate’s valuation to $700 million. That determine was obtained by an nameless supply with information of the deal, CNBC says, nonetheless the corporate has but to remark.
The Sequence C spherical was led by YF Capital, NIO Capital, and Angel Plus China, with participation by Sequoia Capital China, GP Capital, GL Ventures. In line with information reported by Crunchbase, this brings the corporate’s lifetime funding to $171 million.
Nreal might be finest identified for its smartphone-tethered AR glasses, dubbed Nreal Mild which made headlines again at CES 2019 for its comparatively small form-factor compared to Magic Leap One or Microsoft HoloLens.Picture courtesy Nreal
Nreal Mild achieves this by offloading processing to a appropriate smartphone. It additionally incorporates what are referred to as ‘birdbath’ optics, that are notably cheaper to provide than waveguides and usually have higher gentle effectivity.
Nreal Mild has been on sale via telecoms in Japan, South Korea, Germany, and Spain, usually priced between $600 and $820 relying on the area.
Notably the Beijing-based firm hasn’t launched Nreal Mild in China or america, one thing Nreal CEO Chi Xu says could occur in some unspecified time in the future in 2022 together with “extra international locations as effectively,” Chi Xu tells CNBC.
The corporate’s Sequence C comes at a time when Apple is clearly making preparations for its personal XR headsets. A current report holds that Apple is sourcing components for its VR headset. A mid-2020 report from serial leaker John Prosser holds that Apple’s AR glasses are headed to market someday in late 2021 or early 2022.
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