Chinese Chip Firm GravityXR Bags Several Hundred Million Yuan in New Funds

Ningbo-based XR chip firm GravityXR announced on August 12 that it has successively completed angel-round investment and a pre-A round of financing worth several hundred million yuan, within a period of six months.

The angel investment was led by Gaorong Capital, followed by Sequoia Capital, IDG and Jinshajiang Venture Capital. The pre-A round was led by leading XR enterprises, followed by investment institutions such as Gaorong Capital, Sequoia Capital and Lenovo Capital & Incubator Group. The raised funds will be used for technology R&D, talent recruitment and market expansion.

In the XR field, chips and related software and hardware technologies are the core underlying technologies, which finally determine the user experience. Founded in September 2021, the company focuses on the R&D of XR chips. It believes that “hardware development is the foundation of the XR industry. XR hardware devices’ chips, displays and optics are the value nodes with the highest cost, while XR special chips are an important link in optimizing the user experience of terminal hardware equipments.”

The company’s CEO previously led a team in R&D work at Apple for many years, accumulating a lot of experience in XR hardware. Members of the founding team also have rich experience in chip R&D and the consumer electronics industry. They previously held important positions related to technology and product R&D at Apple, Huawei HiSilicon, Meta, Amazon and other companies. They have much accumulation in chips, displays, perception, visual image, AR and VR, and have leading technological experience, capabilities and vision in related fields.

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The company has launched the GravityXR™ bionic visual chips, which apply for VR and MR equipment. Customized design of components with hardware accelerated processing is also available, such as in display, perception, image and other aspects. It can provide multi-sensor interface and corresponding perception, image algorithm applications as well as high-resolution, high-frame rate display interface and corresponding display effect enhancement technology.