Pico Raises $37M Series B+ Financing, Neo 3 Standalone to Release in Q2 2021 – Road to VR

Pico Interactive, the Beijing-based VR headset creator, introduced it has secured a recent funding spherical of ¥242 million RMB (~$37 million), one thing the corporate says will assist launch new hardware, and higher place itself as a consumer-focused firm.

In keeping with an organization press launch obtained by Yivian (Chinese language), traders embody Keystone Capital, Shenzhen Yidun Media Funding Fund, CCB Worldwide, Jianyin Suzhou Science and Expertise Fund. The cumulative funding quantity of its Collection B and Collection B+ involves ¥435 million RMB (~$66.5 million).

The corporate says the funds raised might be used to acquisition of core applied sciences corresponding to optics, and creating better demand within the client sector.

Henry Zhou, Pico Interactive CEO and founder, says the corporate can be on the point of launch its subsequent standalone VR headset, Pico Neo three, which is slated to reach someday in Q2 2021. There’s no info on headset specs but, nevertheless it’s set to be one other standalone.

Pico maintains heavy give attention to each builders and enterprise, so it’s nonetheless unclear whether or not Pico Neo three might be focused at shoppers. It’s actually the course the corporate intends on heading sooner or later, at the very least insofar the Chinese language market is worried.

Zhou additional states that the brand new funding might be used to enhance the its Pico Retailer content material platform, one thing which is important if it hopes to compete in opposition to a surprisingly lengthy record of home rivals. Pico additionally says will probably be specializing in sports activities health, informal content material consumption, and social VR functions.

Pico Raises $37M Collection B+ Financing, Neo three Standalone to Launch in Q2 2021 – Highway to VR 6Photograph captured by Highway to VR

We had been impressed with our hands-on with Pico Neo 2 again at CES 2020 (earlier than, nicely, you realize), with the headset respectably stacking up in opposition to the unique Oculus Quest hardware. Supposing Pico Neo three is aiming to perform the identical feat, however with Oculus Quest 2, it’s doable Fb could have a modicum of competitors to fret about within the enterprise sector.

Nonetheless, it’s unlikely we’ll see a consumer-focused Neo three outdoors of China just because the corporate would want to draw a considerable amount of non-Chinese language content material to its retailer, one thing it plainly doesn’t have but. It will additionally have to closely subsidize Neo three to make it at a sexy worth level, say, someplace round $300 to boost any eyebrows. On the time of this writing, the most cost effective model of Neo 2 prices a whopping three,500 RMB (~$535), nevertheless it’s price noting that China-based shoppers can’t purchase Fb hardware.

Because of Antony Vitillo of Skarred Ghost for pointing us to the information.

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