Extended Reality (MR) Firm Ximmerse completed its Series A4 financing round worth CNY 125 million. The money will be used for the R&D of new products.
Guangdong Virtual Reality Technology (Ximmerse, Chinese: 燧光), developer and manufacturer of MR hardware and equipment, announced a Series A4 round of financing worth CNY 125 million (USD 18.725 million) today, tech news portal lieyunwang.com reported.
The investors in this round include Zhongyuan Qianhai Equity Investment, Dynamic Balance Capital, Hongtai Jingying Investment Partnership, Telecom Ark Venture Capital, and 37 Lexin Fund.
This round of financing will be used to increase investment in R&D, optimize user experience, and launch a new generation of products.
He Jie, the founder and CEO of Ximmerse, said that the company has created a series of industry solutions through a virtual-real integration system called "Xingkong", which are widely used in special training, education, cultural tourism, medical treatment, industry, and other fields to help companies reduce costs, increase efficiency, and create industrial value.
Ximmerse plans to launch a new generation of Rhino X series products in the third quarter of this year. The new products will be greatly upgraded based on the previous generation products, which would enhance the virtual and real integration capabilities of the "Xingkong" system, He added.
MR, including virtual reality (VR) and augmented reality (AR), is the core application scenario of 5G, and it is also considered to be the entry of the next-generation interactive revolution and the metaverse.
Recently, the Metaverse Industrial Capability Base was jointly established by Ximmerse, Guangdong Telecom Planning and Design Institute, and Guangdong Yixun Technology. It is the first Metaverse Base in China, according to lieyunwang.com.
Ximmerse’s competitors include Pico, ANTVR (Chinese: 蚁视科技), 3Glasses, Next/Now, and 4Experience.