VR Hardware Manufacturer Pimax Completes C1 Round of Financing of CNY 200 Million

Technology Author: Yongqian Yang Feb 27, 2023 11:37 AM (GMT+8)

In 2026, the overall scale of the domestic virtual reality industry will exceed CNY 350 billion.


The well-known domestic VR hardware manufacturer Pimax (Chinese:小派科技) recently completed the C1 round of financing of CNY 200 million, led by Tuanmu Capital (Chinese: 端木资本), followed by Qingdao Haifa Group (Chinese: 青岛海发集团), Yuhang International Investment (Chinese: 余杭国投), Huilong Investment (Chinese: 汇龙投资) and other institutions.

Founded in 2015, Pimax is a VR hardware manufacturer integrating product development, production and sales. This round of financing will mainly be used in three aspects: replenishing working capital, preparing for the rapid launch and timely delivery of new products; strengthening the construction of the global operating system, launching new products (Pimax Crystal and Piamx Portal), and entering new target markets ( Including the all-in-one machine market, the domestic market and the enterprise market); continue to increase R&D investment in areas that reflect core competitiveness.

At present, although the oligopoly effect in the global VR industry continues to intensify, startups can still find room for development through differentiated competition. Weng Zhibin, the founder and chairman of Pimax, introduced that since the establishment of the company, Pimax has launched several products, and has always focused on high-definition picture quality and large viewing angle displays.

In 2016, Pimax released its first product, Pimax 4K, which focuses on 4K display. At that time, the resolution of most VR products only supported 1K/2K effects. In 2017, Pimax released Pimax 8K, which supports 200-degree field of view display. It is the world's first PC VR product that supports 8K displays. The crowdfunding amount of this product on Kickstarter is as high as USD 4.23 million, breaking the record of crowdfunding in the XR field held by Oculus for many years, and this record has been maintained to this day.

In October 2022, Pimax released Pimax Crystal, which supports both PC VR and all-in-one modes. The angular resolution has reached 42ppd, which is very close to the angular resolution of 60ppd corresponding to the retinal level. The resolution is around 20ppd. Pimax Crystal is also the world's first product that supports lens replacement. Weng Zhibin said that the development of products supporting 12K displays is progressing smoothly and is expected to be released by the end of 2023.