Nreal AR glasses

China based augmented reality headset maker Nreal secured a series B1 funding of US$ 40M from Sequoia Capital on 4th September 2020.

The series B1 funding round was led by video startup Kuaishou which is backed by Tencent Holdings Ltd. Other participants in the round include Sequoia China, Hillhouse Capital and CICC Capital. Till date, Nreal has raised US$ 70M. Some of its existing investors include Shunwei Capital, China Growth Capital, China Everbright Limited New Economy Fund, Terminus, Aplus Capital, iQiyi, and Siasun.

Nreal is looking forward to expand into the nascent field of projecting digital objects onto the real world or augmented reality. Nreal competes with some of Silicon Valley giants that are developing products for virtual or augmented reality including Facebook Inc., Google and Microsoft.

Based in Beijing, Nreal was founded in 2017 by Xu Chi. He is an engineer who has previously worked with American AR startup Magic Leap. Nreal is a ready-to-wear mixed reality glasses startup. Its flagship product, Nreal light is the first lightweight and comfortable mixed reality glasses, sporting a vivid display combined with spatial computing algorithms for an immersive experience. It was launched in 2019.

Nreal glasses
Nreal’s Ready-to-wear mixed reality glasses

In 2020 the startup launched a new 3D system “Nebula” to support all native Android applications. In August, Nreal launched its 3D operating system Nebula in Korea’s official application store OneStore.

The company’s aim is to make mixed reality available and accessible to everyone. It wishes to achieve this by empowering developers to create applications that can propel a new era of entertainment, productivity, and more.

Nreal is looking forward to continue expanding commercial opportunities at home and abroad, actively promote ecological cooperation inside and outside the industry, and explore the combination of Augmented reality technology and multiple application scenarios in the 5G industry environment. Some of its top competitors are Magic Leap, Oculus, Meta, Leap Motion and Up Skill among others

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Komal writes about the startup ecosystem on VCBay. She is an Economics Hons. graduate from Miranda House, Delhi University, and is passionate about the world of entrepreneurship and finance.

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