MR Stage, an online virtual activity service platform, bagged hundreds of millions of CNY from Series A round of financing, with participation by Alibaba Group.
MR Stage(Chinese:随幻科技), an online virtual activity service platform, bagged hundreds of millions of CNY from Series A round of financing, with participation by Alibaba Group.
Founded in 2020, MR Stage is the world's leading developer and service provider of live virtual video and has developed the industry-leading XR Extended Reality technology. In 2021, it began to bring 3D real-time virtual solutions to the market as products. Its products help brands move activities from offline to online and achieve the goal of reducing costs and increasing efficiency.
The money will be used to upgrade products and service platforms, further break through technical barriers such as interaction and communication in online virtual activities, and create a more high-quality and efficient online virtual activity experience.
Hong Xu, the founder and CEO of MR Stage, said that online virtual activities should not only 'restore' but also 'surpass,' exploring an online activity mode that is more efficient, more connected, and better experienced than offline activities,
The global virtual activity platform market generated USD 1 million in 2020 and is expected to capture USD 1.8 million by 2027, growing at a CAGR of 9.1% from 2021 to 2027.
With a zero-threshold 3D editor and a rich library of 3D materials, more content creators have joined MR Stage in constructing online materials, forming a multiple UGC creation system. In the past two years, the business volume of MR Stage has shown multifold growth. With the continuous hot trend of market demand, it is expected to continue to achieve an order-of-magnitude jump in the next year.
MR Stage's international competitors include NextVR(US) and VReal(US), and domestic ones include POLYV (Chinese:保利威), Virtual Hall(Chinese:微吼), and Mudu(Chinese:目睹科技).