As a VR pioneer of China, the company has developed two product lines aiming at game and video markets respectively.
Recently, Pico announces it raises CNY 242 million in Series B+, jointly led by CoStone Capital and CCB International. According to the company, the funding will be used for the development of core technologies such as interactive and optical display and be used for exploring consumers’ demand and bents.
Founded in 2015, Pico has been focusing on the development of all-in-one VR systems and equipment. The company mainly deploys two product lines: Neo series and G Series. Neo series adopts 6DOF technology, focusing on game interaction functions, while G series adopts 3DOF technology, focusing on viewing functions. Hongwei Zhou, the CEO of Pico, said that the user stickiness of VR games is higher than that of VR video. In the long run, the Neo series with six degrees of freedom has great market potential. Pico products use a variety of interaction technologies, including 6DOF head tracking, 6DOF handle tracking, and 23dof gesture interaction. At present, Pico has nearly 700 domestic and foreign patents and 16 PCT patents.
The years from 2015 to 2020 are the booming period of the global VR industry, and there are thousands of competitors in the market. The company's high-quality products become popular among customers, especially overseas customers. Pico's overseas business accounts for 50% of its total revenue in 2020. With the continuous development of 5G networks and VR core technology, the VR industry will usher in a period of rapid growth.