Following the launch of nreal light at CES, nreal adds $16M in fundraising, and announces sunglass-like foldable temples
BEIJING, February 22, 2019 /PRNewswire/ -- nreal, a developer of ready-to-wear mixed reality glasses (MR) announces $16 million in Series A+ fundraising from China Everbright Limited New Economy Fund, iQIYI, Shunwei Capital and China Growth Capital.
The latest round follows a $15 million in Series A round, announced in January 2019, for a total of $31 million for nreal’s flagship mixed reality glasses.
The Series A+ funding will be used to continue nreal’s research and development, expansion of its team, and be reinvested into its operations.
First unveiled at CES 2019, nreal light introduced a radical consumer-grade design that resembles sunglasses, but delivers a powerful and immersive full MR experience. Sporting an industry-leading 52° Field of View (FoV) and high-definition 1080p resolution, nreal light was hailed at CES for delivering clear digital images, which previously was an industry-wide problem. But even more surprising was that its technology was packed into a lightweight, 85g form factor that could be worn for hours without discomfort.
But driven by a mission to ensure not only comfort, but also the convenience of using nreal light on-the-go (even in public). nreal also announces today the introduction of foldable temples. With foldable temples, a feature never-before-introduced in MR glasses, nreal light is now easier than ever to tuck into your pocket or carry in a sunglass case.
“Foldable temples might seem trivial at first glance, but it’s never been achieved before due to its technical complexity and marks an important milestone for nreal,” said Chi Xu, CEO and Founder of nreal. “We’re pushing the boundaries to move MR hardware closer to mimicking the familiar sunglass form factor that people recognize, and ultimately closer to mass adoption.”
“China Everbright Limited New Economy Fund has always been keen on the investment on those start-ups who are tech-driven and capable to commercialize its products. Less than 3 years, we have been growing into an important force in private equity market, specializing in “AI+” investment. The investment on nreal represents our mapping in AI and AR sector, on which we have been keeping a close eye. We deem that nreal has a great potential in becoming one huge giant in AR and VR field since the technology has a wide range of practices and realization in commercializing.” said Victor Ai, Managing Director of China Everbright Limited. “The evolution of mixed reality glasses allows audiences to watch and interact with content at an unprecedented level of immersion,” said Youqiao Duan, Senior Vice President at iQIYI. “iQIYI is optimistic about the potential of the ‘fourth screen’ and the development of MR-specific content through new hardware. We look forward to shaping the future of entertainment with nreal.”
“Everyone has their own perceived version of what an AR device should look like,” said Xing Meng, Executive Director of Shunwei Capital,“We believe nreal is the company that is finally getting it right. We have strong faith in Chi’s vision and we are excited to see nreal’s genius in building possibly the very first mass market AR wearable device by combining cutting edge technology with sleek vibrant design.”
“We are very excited about the mixed reality future that nreal showed to us through its impressive designs and engineering. We believe this world-class innovation could finally materialize the long-expected augmented reality world and help bring computer age to the next I/O level.” added Yuan Gong, Head of Frontier Technologies at China Growth Capital.
Founded in January 2017, by Chi Xu and Bing Xiao, nreal is a developer of ready-to-wear mixed reality glasses. Its flagship product, nreal light, is the first lightweight and comfortable mixed reality glasses, sporting an industry-leading vivid display combined with SLAM-based environmental understanding AI algorithms for an immersive experience. nreal has raised $15 million in Series A funding from investors including Shunwei Capital, China Growth Capital (CGC), APlus, Siasun and iQIYI.
To learn more about nreal visit nreal.ai