Huynew Technology, an AR/VR optical module supplier, has announced its completion of an A+ round of financing totaling tens of millions of yuan. The investors in this round include Granary Capital and Zelos Megatrends. Prior to this, it had obtained several rounds of financing totaling nearly 100 million yuan ($15.7 million).
After the completion of this round of financing, Huynew Technology will continue investing in its AR (BB) and VR (Pancake) optical modules. The products are lightweight, high-definition and VAC-free. The firm also aims to further expand its production capacity and optimize mass production process and efficiency.
Since its establishment in 2017, Huynew Technology has focused on the R&D and mass production of AR/VR display optical modules. It supplies AR coaxial air-guide modules (Co-Axis, referred to as “CA,” also known as “BB” in the industry) and the “Pancake” optical solution for VR modules.
The “BB” module is the main product of Huynew Technology in the AR field throughout the past five years. Based on this product, the company has accumulated nearly 50 BB module-related patents. Since the beginning of 2018, it has successively launched modules including the CA50, CA40 and CA43. The firm’s customers have used them for various AR applications including cultural tourism products, movie screening, entertainment, amblyopia treatment and FPV (first person view) headsets.
Huynew has the ability to design, develop, manufacture and test optical module solutions for commercial settings, and has complete production processes such as injection molding, coating, processing and assembly. Its new dust-free optical module production line has been put into use recently, with a total production capacity of 30K sets/month.