Chinese AR glasses and software company Rokid announced that it has raised $70 million in a funding round led by the Hefei city government. Seen here is a demonstration of the company’s augmented reality helmet.
Philip Fong | AFP | Getty Images
BEIJING – Chinese augmented reality glasses and software company Lokid announced this week that it has raised 500 million yuan ($70 million) in a funding round led by the Hefei city government.
Hefei, which is also backed by electric car startup Nio, is a hub for auto and semiconductor manufacturing near Shanghai.
Augmented reality (AR) technology allows you to overlay digital images onto the real world. apple’The Vision Pro virtual reality headset, scheduled to launch on February 2nd, also allows users to see the real world using what the company calls “spatial computing” technology.
Rokid sells consumer AR glasses. But the Hefei deal focuses on the use of AR in factories, Rokid founder and CEO Misa Zhu told CNBC in a phone interview Wednesday.
He said AR glasses could help check the safety of equipment while also reducing the time workers spend training, and Rokid already has more than 60% market share in industries such as energy in China. he claimed.
Zhu said Rokid can test new AR technology with industrial customers before finding a way to lower costs and roll it out to consumers, as companies value product functionality over price.
The cooperation agreement between Lokid and Hefei City will establish an “industrial metaverse headquarters, ecosystem center and research and development center,” local state media reported in Chinese, with translation by CNBC.
While companies are moving supply chains away from China due to geopolitics and labor costs, the Chinese government has said it wants to build domestic capabilities in advanced manufacturing.
Rokid said it plans to make further technology announcements in the coming weeks. The company also sees great potential with the introduction of artificial intelligence.
“AI and AR will change people’s lives in the next five to 10 years,” Zhu told CNBC in Mandarin. “AI helps us collect and organize data better. [AR] for a more natural look. ”
