AR Glasses Company Rayneo Nets More than 100 Mn in First Round

Technology Author: Yunfeng Zhang Mar 06, 2023 05:07 PM (GMT+8)

In 2022, Rayneo Innovation (Chinese:雷鸟创新) released two consumer grade XR products, Rayneo Air and Rayneo Air 1S, based on Birdbath solution, and won 28.4% of the domestic consumer grade AR glasses online market share, ranking first in the industry.

Rayneo Air

AR glasses company Rayneo Innovation announced the completion of its first round of financing of over RMB 100 million, led by Fosun Capital(Chinese:复星创富) and Winreal Investment(Chinese:容亿投资), with strategic investments from 37 Interactive Investment(Chinese:三七互娱), Runxing Ruihua(Chinese:润兴锐华) and Doctor Glasses(Chinese:博士眼镜), and follow-on investments from WEED Venture(Chinese:野草创投) and Hainan Yingtian(Chinese:海南盈添). Leap Capital(Chinese:跃为资本) acted as the exclusive financial advisor for this round of financing. Previously, Rayneo Innovation and Doctor Glasses entered into a strategic cooperation and set up a joint lab to cooperate in improving the smart glasses wearing experience and offline channel sales. The proceeds will be used to promote the technical development, mass production, market expansion and introduction of AR talents for BirdBath and optical waveguide technology lines of consumer AR glasses to promote the landing and market penetration of consumer AR glasses.

Founded in October 2021 and incubated by TCL Electronics, Rayneo Innovation is an up-and-coming company focused on the AR field, dedicated to building a first-class consumer-grade AR ecology and creating more value for global users. The company's core team comes from Tencent, DJI(Chinese:大疆), Meta, OPPO and IQIYI(Chinese:爱奇艺). The company has deep accumulation in the fields of near-eye display optical design, self-research AI algorithm model and multimodal human-computer interaction, and has a high level in the supply chain and production process.

At present, consumer AR glasses have not really entered the vision of ordinary people, and the technology, ecology and scene behind it are more limited, and the industry is still in the early stage of development. And under the current limitations of technology, cost and yield rate, most AR glasses manufacturers have adopted compromise technology solutions.

According to Hongwei Li, founder and CEO of Rayneo Innovation, "true AR glasses" should simultaneously consider the four characteristics of small size, natural display, all-weather scene wearing, and virtual-reality combination. Rayneo has tried this with its latest product, RayneoX2, which uses the ultimate AR glasses solution - diffractive optical waveguide + micro LED + SLAM positioning.

RayneoX2 also uses self-developed ultra-small full-color micro LED light engine components to increase the brightness of the diffractive optical waveguide by three times. In addition, RayneoX2 has also developed its own fully automated equipment and systems to achieve ultra-precise, high-yield mass production of full-color light engines. According to Hongwei Li, this product, which was exhibited at CES this year, will be available for mass production in the first half of 2023.

Rayneo's competitors include NReal(Chinese:太若科技), Rokid(Chinese:若琪科技) and Xiaomi(Chinese:小米).