Fortune Capital Leads $14M Round In Chinese VR Headset Maker Shadow Creator

Fortune Capital has led a reported RMB100 million (US$14 million) series A round in Shadow Creator, a Shanghai-based visual reality headset device developer.

Beijing-based investment firm Everest Venture Capital and Initial Venture Capital also participated in the round, according to Chinese media reports.

Founded in 2014, Shadow Creator develops visual reality devices and software. Its products include a visual reality headset, named Air, and an augmented reality headset that can be used with a tablet to allow uses to watch 3D movies and read digital books.

The company previously raised an angel round worth millions of RMB in 2014. One year later, it raised a RMB10 million (US$1 million) in a pre-A round from Everest Venture Capital.

It plans to use the latest proceeds to upgrade its technologies and products, as well as expand its business to the whole country and internationally.

Last month, Hypereal, a shanghai-based visual reality headset developer, raised a series B round worth around US$10 million from Qiming Venture Partner.