Augmented Reality Eyewear Startup NREAL Bags USD 60 million Funding From Alibaba

  • 4th Apr 2022
  • 1552
  • 0
Augmented Reality Eyewear Startup NREAL Bags USD 60 million Funding From Alibaba

Alibaba, the Chinese online marketplace, led a USD 60 million fundraising round for augmented reality (AR) startup Nreal.

The company's current series C+ financing round increased its total investment to $200 million in less than a year. The additional investment will be used for research and development, boosting the company's expansion into new areas and fortifying existing relationships with developers and partners.

Image Courtesy: nreal.ai

Nreal was one of the first companies to introduce consumer augmented reality glasses, which are now accessible in six countries, including the United States, where its two models are available in Verizon shops worldwide. The device, which was unveiled in 2019, has capabilities like as video streaming and interactive gaming, which were made possible by agreements with technology firms.

Additionally, Nreal is poised to unveil augmented reality glasses made specifically for electric automobiles. The new look, developed in collaboration with NIO, is scheduled to debut in 2022.

Alibaba's investment in Nreal comes on the heels of a series of strategic investments by a variety of companies and organisations, including Kuaishou, Yunfeng Capital, and iQIYI.

This year, the business intends to accelerate the worldwide adoption of augmented reality glasses by forming new relationships with companies, developers, and content providers.

About Nreal

Nreal is driving the world's revolutionary augmented reality transition and is the only business to have commercialised consumer augmented reality glasses on a worldwide scale. Nreal, which is widely acknowledged for its exceptional display technology and product design, has partnered with over ten prominent carriers and launched its product in six countries to far.

Image Courtesy: nreal.ai

Nreal, founded in 2017, initially gained global attention in early 2019 with the launch of Nreal Light, the world's first consumer augmented reality glasses. Not only did it have a ground-breaking design, but it was also the first augmented reality glasses to be linked to the mobile content ecosystem. Nreal now employs up to 400 people and has received about USD 260 million from a number of respected venture capital companies and industry leaders, including Alibaba, Kuaishou, Nio Capital, Yunfeng, Sequoia, Hillhouse, APlus, CICC Asset Management, CPE, Shunwei, China Growth Capital, and iQIYI.


Recommended Topics

Author

Namrata Parab

Namrata is a web and graphic designer with a strong urge to learn and grow every day. Her attention to details when it comes to coding web pages or creating materials for social media uploads or adding that extra flair to blogs has been commendable. She pours her spirit into any work that she undert... read more


Comments

Add Comment

No comments yet.

Add Your Comment
0g1jg

Relevant Blogs

Metaverse NFT
  • News
  • United States
Phillips Will Exhibit Portraiture by Seneca

New York – 21 November 2022 Phillips is happy to present Portraiture by Seneca, the newest body of work by All Seeing Seneca containing three a

Metaverse NFT
Bang & Olufsen of Denmark Introduces its First NFT Drop: The DNA Collection

As the firm makes its first step into the Metaverse, Bang & Olufsen is producing an exclusive NFT collection: 'The DNA Collection.' In order to m

Metaverse NFT
BVLGARI Launches BVLGARI World, a Virtual World Created in Partnership With ZEPETO

The BVLGARI virtual world has made its debut on ZEPETO, the largest metaverse platform in Asia. Started on August 31, 2022, the event includes the po