Pico Interactive completes $37.4m funding round, begins work on Neo 3

Mark manages all of the content for VRWorldTech. To discuss an idea or pitch a story, drop him a line at editor@vrworldtech.com

‘The funding helps us to continue furthering our presence as a leader in B2B VR solutions in the West,’ says Zhou Hongwei, chief executive officer of Pico Interactive

Quick read

➨ The new funding takes Pico’s total B and B+ raised to $67.23 million
➨ This level of funding demonstrates that investors believe that Pico has a promising future in serving the enterprise market worldwide and consumer market in Asia
➨ Pico is also working on Neo 3, a successor to the all-in-one Neo 2 virtual reality headset

The story

Pico Interactive has confirmed reports that it has completed a $37.4 million B+ funding round and is working on the successor to the all-in-one Neo 2 headset.

The new funding came from Co-Stone Asset Management Co, Shenzhen Yidun Media Investment Fund, Jianyin International Capital Management (Tianjin) Co, and CCBI Tech Venture (Suzhou) Combined Debt & Equity Private Equity Fund, taking Pico’s total B and B+ raised to $67.23 million.

This level of funding demonstrates that investors believe that Pico, headquartered in China but with bases around the world, has a promising future in serving the enterprise market worldwide and consumer market in Asia.

Zhou Hongwei, chief executive officer of Pico, says the latest funding round “will not only help us strengthen the accumulation of key technologies but also introduce high-quality VR games and applications onto our consumer Pico headsets in Asian markets”.

“In addition to the B2C growth in Asia, the funding helps us to continue furthering our presence as a leader in B2B VR solutions in the West. We’re continuously looking for ways to better support our partners and this latest financing will help give us the tools we need to make these visions a reality.”

Neo 3 is coming soon

Pico also confirmed that it’s working on Neo 3, a successor to the all-in-one Neo 2 virtual reality headset. This is a competitor to Oculus Quest 2, in that it doesn’t require a PC to use.

Little is known about the new headset, other than Pico plans to release it later this year.

Neo 2 and Neo 2 Eye are Pico’s top-of-the-line 6DoF (six degrees of freedom) headsets. They feature 4K resolution, enterprise functionality, a counterbalanced design for extended wear, spatial stereo speakers and an all-PU facial interface for hygiene.

The Neo 2 Eye model includes eye tracking functionality to enable enterprises to gain a deeper understanding of customer behavior and enhance training efficiency.

Pico also offers the G2 4KS and G2 4K Enterprise headsets, among the only 3DoF solutions available for enterprise.

Both headsets have 4K resolution, 101° field of view, as well as silicone straps and an all-PU facial interface for easy cleaning.

The G2 4K Enterprise also has a 16 MP single RGB camera and more storage than the base model, making it Pico’s most advanced 3DoF headset.

VRWorldTech reviewed G2 4K Enterprise last year and found it to be “the go-to 3DoF headset for business because it’s built to meet their needs and serve them with the utmost ease and efficiency”.

Let VRWorldTech know what you think via Twitter, LinkedIn, Facebook or editor@vrworldtech.com.

Don’t forget to read the latest issue of VRWorldTech Magazine. And never miss an issue again by picking up a print or digital subscription today.

Image: Pico Interactive’s Neo 2 range

close