Chinese mixed reality device developer Nreal announced today that it has completed a US$40 million series B1 round of financing led by short video platform Kuaishou.
Sequoia Capital China, GP Capital, Hillhouse Capital, and CICC Capital also poured money into the round.
So far, Nreal’s total financing amount has exceeded US$70 million. Existing investors include Shunwei Capital, China Growth Capital, China Everbright Limited New Economy Fund, Terminus, Aplus Capital, iQiyi, and Siasun.
Established in Beijing in 2017, Nreal is a mixed reality glasses developer and maker which targets to shrink augmented headsets to size of sunglasses. The start-up unveiled its first lightweight ready-to-wear mixed reality glasses Nreal Light in 2019.
At the beginning of 2020, a new 3D system "Nebula" was released to support all native Android applications. In addition, while focusing on improving product experience and perfecting the upstream supply chain, Nreal actively promotes commercial implementation.
In March 2020, Nreal set up Mixed Reality Headquarters Base in Wuxi, and built an optical module production base of over 26,000 square meters in Wuxi High-Tech Industrial Development Zone. The first phase of the production line is expected to be put into operation in late September.
Last month, Nreal’s 3D operating system Nebula was launched in Korea’s official application store OneStore. Through commercialization in South Korea, Nreal has successfully opened up the entire service chain involving MR glasses, mobile phone manufacturer, telecom operator, and MR content provider.
In the future, Nreal will continue to expand commercial opportunities at home and abroad, actively promote ecological cooperation inside and outside the industry, and explore the combination of mixed reality technology and multiple application scenarios in the 5G industry environment.