GravityXR Completes Series A Funding, Contributing to Innovation of XR Technology

Technology Author: EqualOcean News, Muriel Meng Editor: Yiru Qian Oct 11, 2023 05:49 PM (GMT+8)

As the core component of XR devices, the technology of XR chips directly affects the user experience and company competency.


GravityXR (Chinese: 万有引力(宁波)电子科技有限公司), a Ningbo based space computing chip design startup, recently completed an series A financing of CNY hundreds of millions. Since its establishment in September 2021, it has completed four rounds of financing. The proceedings will be used to support corporation development to achieve more in the field of XR (Extended Reality) technology.

GravityXR focuses on the research and development of special chips and related components for XR devices including AR glasses, VR headset and MR headset. It is committed to providing a complete technological solution for the next-generation of XR spatial computing with the core chip as the carrier and supported by hardware technology and algorithms.

The company's latest financing round was led by Monolith Management (Chinese: 砺思资本), jointly invested by investment institutions such as Ningbo Tongshang Group (Chinese: 宁波通商基金), China Merchants Venture (Chinese: 招商创投) and Haiding Capital (Chinese: 海鼎资本), with follow-on investments from original shareholders include HoYoverse, Glory Ventures (Chinese: 耀途资本), Tongge Capital (Chinese: 同歌创投), United Media FOFs (Chinese: 众源资本), 37 Interactive Entertainment and Sequoia Capital.

In fact, GravityXR and its foreseeing strategic layout has always been the favor of capital since its inception, with notable investors including but not limited to Gaorong Capital, IDG Capital, GSR Ventures, Lenovo Capital (Chinese: 联想创投), Glory Ventures, 5Y Capital (Chinese: 五源资本), MiraclePlus (Chinese: 奇绩创坛), Goertek (Chinese: 歌尔股份), HoYoverse, and Eastern bell Capital.

According to Cao Xi, the founding partner of Monolith Management, "Gravity has developed a dedicated co-processor that works with the master chip to make the glasses a better experience with HD, low latency, and no glare, which can help XR products reach the office and consumer markets."