The leading manufacturer of AR glasses, Nreal, has raised $15 million in venture capital led by Gentle Monster’s parent company IICombined. Last year, it also introduced the second generation of the vastly enhanced Nreal Air glasses.
This round of funding follows one that Alibaba led in March, where the company had raised $60M. The funds will be used for R&D expenditures, expedite the company’s international expansion into new markets this year, such as China, and strengthen its current partnerships with partners and developers to provide users with a broader range of content and experiences.
“Gentle Monster is a fantastic fashion brand for eyewear with truly inspirational designs. We feel fashion and design will be important aspects in the future development of AR glasses as we continue to expand the sector’s consumer base,” stated Peng Jin, Co-founder at Neral.
The company desires to continue creating cutting-edge products at a rapid pace so that it will be ready with the finest ones when the AR market takes off. Nreal refers to the product as a ‘portable movie theater.’
So far, the Beijing-based company has collaborated with over ten carriers and introduced its product in six countries. According to the company, breakthroughs in augmented reality technology have advanced immensely since the initial release of Nreal Light.
Technology for augmented reality is now more portable and smaller. The company designed the new glasses for specific uses, like watching TV shows online and playing mobile games. The idea is to create a thrilling experience in a pair of sunglasses that users can wear normally.
Nreal Air claims that it possesses the best display of any AR device currently on the market, with the capacity to simulate a virtual display up to 201 inches when viewed from a distance of six meters. The glasses will stay connected to your smartphone like the Nreal Light. The glasses are about a third lighter and more convenient to wear than many earlier AR glasses.
Nreal was founded in 2017 and has built up a sizable global distribution network, mainly due to business partners like Qualcomm and LG in countries like the United States, the United Kingdom, Japan, South Korea, Spain, and Germany.
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