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Qualcomm-powered Chinese XR Start-up NReal raises $40 Million

A Chinese Startup company, Nreal is currently in media headlines regarding its latest $ 40 Million series B funding round. This $ 40 Million funding round marks the overall investment of Nreal $70 Million. The funding round was primarily led by Guizhou, which is the main competitor of TikTok’s Chinese version called Douyin, iQiyi, and Netflix. This funding is going to be beneficial for the augmented reality segment led by Nreal. Other backup investors for the deal are GP Capital, CCEIF Fund, China’s Famous Investment Bank, China International Capital Corporation, and GL ventures, an early-stage funding company. as per NReal $40m series douyinliaotechcrunch

Nreal is a Chinese startup founded in January 2017 by Chi Xu and Bing Xiao. The startup mainly deals in the versatile technology of Augmented Reality and making various AR-supported authentic glasses. Famous products of the growing firm include NReal Light, NReal light developer kit, and NReal enterprise edition. The company has its headquarters established in Beijing, China but has its consumers worldwide.

Regarding the significant products, NReal Light is their first product. It includes two 1080p resolution display cameras that can be used in various smartphones that satisfy the minimum capabilities required: a USB C-type port and a minimum Snapdragon 855 processor. The second one is the NReal developer kit which was first introduced in 2019 and includes multiple things, such as a computing device, NReal light, and a wireless controller. It also has NRSDK, which provides multifunctional features such as Real-time rendering and spatial computing. The third product, i.e., the NReal enterprise edition, was launched in 2021 at Mobile World Congress in Shanghai. The product was primarily developed to ease deployment and further maintenance.

The latest $40 Million funding will be used to increase the scope of Augmented and Virtual Reality among people worldwide, which is a challenging task. The future of Augmented Reality is undoubtedly great, but not so many people are accepting the same due to the persisting traditional ways. The company will expand its current operations with the help of this series A funding round. One thing that the organization is not confirmed is when their plan successfully executes, most people will turn their ways in favor of Augmented Reality. as per NReal $40M series douyinliaotechcrunch

The company has got funding before. Already the startup has led many funding rounds. In 2019, NReal bought venture capital fund company Shunwei Capital in a series A funding round of $ 15 Million. The parent company of shunwei Capital is Xiaomi. Xiaomi is one of the companies which are trying to make its users friendly with the inbuilt Augmented reality lenses from its phone’s camera. Xiaomi is also working hard on “Internet of Things” technology.NReal also has strong connections with Qualcomm in the field of Extended Reality. They build various types of chipsets which NReal will use for the Augmented Reality products launched by the company to date. Both companies are working their best to make the overall experience friendly for their users. For the same purpose, Qualcomm is also supplying a 5g chipset which plays a significant role in enacting an internet connection of high speed. There are some other funding rounds led by NReal . in 2019, the company raised a total of $15 Million in a series A funding round led by China Growth Capital. After this round, NReal raised investment capital of $16 Million in a Series A round led by Evergrowth on 22 February 2019. The leading startup has already signed another contract with South Korea’s LG  and Japan’s telecom company KDDI. Apart from this, in 2020, the company got the IF product design award for the excellent performance of its very first product, NReal Light.NReal has also collaborated with Spatial, to bring avatars to its workspace with the help of its very first product. After this, it partnered with Clayiar for the facility of hand tracking. 

Talking about the prime and backup investors of the latest deal of NReal, the first one is Kuaishou, a Chinese short video-making application that majorly works on  Big Data and Artificial intelligence. GP capital is the second investor for the deal, and it is a leading provider of investments in various niches. It works as a private equity firm. While China Investor Capital Corporation is a tier 1 investment bank of China established in 1995 and has its headquarters in Beijing, China. Last but not least is GL ventures, a venture funding investment company managed by Hillhouse Capital Group. Toong, a famous consultant on Augmented and Virtual Reality, once said, “Its closer relationship with Qualcomm will allow it to access Qualcomm’s network of customers, including telecom companies.” as per NReal $40M series douyinliaotechcrunch

While the funding raised is going to mark a boom in the market for all of the companies. The question aroused here is how and when it will be possible to observe further changes in the industry. 

Also About Know – Finance Startup Alviere Raises 70m In Funding To Help Brand Strengthen

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