Nreal is pressing ahead with R&D, expanding into new markets and launching new products
Nreal has confirmed that it has raised $100 million from a series C funding round.
This brings the company’s total funding raised to $190 million, following its $40 million series B round last year.
The company also said that Nreal Light is retailing in Japan, South Korea, China, Germany, and Spain, with more markets to come following the latest funding round.
Nreal intends to “introduce new products and services that are tailored to select use cases”, strengthen its partnerships with carriers, increase its content offering through partnerships with streaming services and game developers, and “drive exploration for opportunities in the metaverse”.
➨ Nreal has raised $100 million in funding and achieved a valuation of $700 million
➨ The company is also planning to launch a new product as early as next week, likely a follow up to the flagship Nreal Light glasses
➨ Following Nreal Light’s commercial launch in South Korea and Japan, the glasses headed to Europe, launching initially in Spain
The funding will be spent on research and development and expanding into new markets, the company’s chief executive officer, Chi Xu, told the news outlet in an interview.
Xu also told CNBC that it is planning to launch a new product as early as next week, likely a follow up to the flagship Nreal Light glasses.
In February, Nreal turned its attention to the enterprise market with a new dedicated edition of its AR glasses.
Nreal Enterprise Edition comes with a new halo design that wraps around the wearer’s head, while offering the same lightweight and comfort as Nreal Light. Eye tracking and gesture recognition technologies provide intuitive control.
It boasts the same high-quality AR and mixed reality experience as Nreal light, with a sophisticated understanding of the surrounding environment, thanks to in-built six degrees of freedom tracking, plane detection and image tracking.
The enterprise edition is also fully customisable, making the device capable of meeting the needs of businesses in manufacturing, retail, tourism, education, logistics and automotive.
Following Nreal Light’s commercial launch in South Korea and Japan, the glasses headed to Europe, launching initially in Spain.
In February, Nreal said that users have spent an average of 49 minutes per day on Nreal Light, in the context of an average of 20 hours and 35 minutes per month on mobile devices. The top 20% of users spend an average of 120 minutes per day on the device.