Mixed Reality is becoming a thing with more and more startups experimenting in the field. Recently, a Chinese XR startup Nreal that aims to manufacture portable AR gear has secured $40 million in funding. Many high worth investors participated in the Series B funding round, making it a success.
The top investors in the company
One of the biggest investors was Kuaishou, the biggest competitor of TikTok in China. The investment made by a video platform in Nreal can be a good thing because they can work together to integrate AR on the same. Maybe with the investment in an AR hardware company, the video platform might do wonders. Other investors that participated in the round were GP capital, GL Ventures and CCEIF fund.
Xiaomi also has ties with the company and has invested $15 million in a Series A funding round. So, we can soon see these companies working together to bring some advanced AR product in the future.
Qualcomm’s ties with the company
Qualcomm is a major partner of XR startup Nreal and aims to work with the company by providing its chipsets for their smart AR products. This will help in the easy pairing of devices with android smartphones. The company’s 5g chipsets can also be used by Nreal to implement high-speed internet connection, which is very necessary for AR devices. This will ensure the uninterrupted experience for users.
The future of the company
The development of AR is still in a very early stage. We definitely have come a long way but we still have a long way to go. The company’s targets to get mass users is surely not going to be an easy thing. Users haven’t still accepted Mixed Reality the way they accepted smartphones and many other tech products. So, it’s difficult to say that what the future of the company will be.
Toong said, “Nreal is patient and not in a rush to show they can start selling high volume. It’s trying to prove that there’s a user scenario for its technology”. This shows they are taking it slow and trying to figure out the perfect way to work their way up.
The idea of Augmented Reality fascinates me and I hope the new company brings some wonderful products for the end-users. Do you guys AR/VR as interesting as I do? Let me know in the comments below. Also, if you found our content informative and fun do like and share with your friends.