Dream Blossom Receives CNY 400 Million in Series C Financing

Technology, Communication Author: Yongqian Yang Jan 19, 2023 09:39 AM (GMT+8)

The VR industry is transitioning to the MR era.


Beijing Dream Blossom Technology Co., Ltd. (Chinese: 北京梦想绽放科技有限公司) officially changed its name to "Qingdao Dream Blossom Technology Co., Ltd." (Chinese: 青岛梦想绽放科技有限公司), and announced that it has received CNY 400 million in Series C financing, which was jointly invested by Qingdao Economic Control Group (Chinse: 青岛经控集团) and Zhenzhi Capital (Chinese: 真知资本).

Established in December 2016, Dream Blossom is a technology company incubated by iQIYI (Chinese: 爱奇艺) and operates independently, focusing on the research and development of extended reality (XR) technology, products and content. 

On December 26, 2022, Qiyu officially released its first consumer-grade mixed reality (MR)  product, Qiyu MIX (Chinese: 奇遇MIX). As a consumer-grade MR equipped with a binocular vision color perspective solution, it achieves a more natural and comfortable color perspective effect, and can derive a higher-quality mixed reality experience based on MR technology. 

In terms of users, Qiyu equipment has an average daily use time of 85 minutes, a weekly active day of 6 days, and a monthly operating rate of 91%. In terms of technology, it has created the world's first 4K VR all-in-one machine, China's first computer vision (CV) six degrees of freedom (6DOF) VR interactive technology - Zhuiguang (Chinese: 追光), the world's first binocular full-color perspective consumer-grade MR equipment and other industries firsts. Relying on iQiyi, Qiyu has achieved a leading position in VR exclusive viewing.

Dream Blossom CEO Xiong Wen said that in the next few years, Qiyu will continue to create differentiated value for users around the three directions of product, business model and ecological strategy, and will launch another industry-leading product in the first half of this year. It is committed to collaborating with upstream and downstream partners to build a healthy and complete XR ecosystem.