With $200 million of funding now raised in the last 12 months, Alibaba is the latest investor to back China’s Nreal to drive adoption of AR glasses
➨ AR glasses maker Nreal has raised another $60 million as part of last year’s series C funding round, taking its total raised in the last 12 months to $200 million
➨ The funding came from China-based ecommerce giant Alibaba
➨ The company plans to use the new funding to invest in research and development and grow its content and app ecosystem
The funding came from China-based ecommerce giant Alibaba, which joins existing investors such as Nio, Kuaishou, iQIYI, Sequoia China, Yunfeng Capital, Shunwei Capital, Hillhouse, CPE and CICC Capital in backing Nreal to drive adoption of AR glasses.
Nreal launched the Air smart glasses last year. They are a non-spatially aware alternative to the Light AR glasses, which deliver mixed reality content, and the Enterprise Edition that comes with a new halo design that wraps around the wearer’s head.
With these three products in its portfolio, Nreal is aiming to corner the market in the next generation of media consumption and AR devices, as the Chinese company builds an ecosystem of content and apps with strategic partners and hardware providers.
Nreal did not confirm its new valuation following the Alibaba investment, but last year’s $100 million influx of new capital valued the company at $700 million.
The company plans to use the new funding to invest in research and development and grow its content and app ecosystem.