The developer of virtual reality (VR) and enterprise solutions, Pico Interactive, has raised USD 37.4M (EUR 31.4M) in a B+ funding round. The funds would be used to fuel the company’s B2C presence in Asia and also drive initiatives in Western markets through onboarding more B2B partners and investing in product development.
“Pico is looking to provide its users with the best VR experience possible through excellent hardware, a great content ecosystem and numerous strategic partners,” stated Zhou Hongwei, CEO of Pico Interactive.
“This funding round will not only help us strengthen the accumulation of key technologies but also introduce high-quality VR games and applications onto our consumer Pico headsets in Asian markets. In addition to the B2C growth in Asia, the funding helps us to continue furthering our presence as a leader in B2B VR solutions in the West. We’re continuously looking for ways to better support our partners and this latest financing will help give us the tools we need to make these visions a reality.”
Co-Stone Asset Management Co., Ltd., Shenzhen Yidun Media Investment Fund, Jianyin International Capital Management (Tianjin) Co., Ltd., and CCBI Tech Venture (Suzhou) Combined Debt & Equity Private Equity Fund LLP participated in the funding round. Pico’s total tally went up to USD 67.23M (EUR 56.48M) in B and B+ funding after this fresh infusion.
Moreover, the company also announced the development of an updated model of the Neo 2 headset, the Neo 3, that will hit the markets later this year.
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