Kuaishou-backed MR Glasses Developer Nreal Raises $40 Million in B1 Round of Financing

(Source: Kuaishou)

The mixed reality (MR) technology company Nreal announced today that it has completed a $40 million B1 round of financing led by Chinese internet media services provider Kuaishou, with Sequoia China, Gimpo Technology Fund, Hillhouse Capital, and China Power China International Capital Fund under China International Capital Capital following the investment, Chinese tech media 36Kr reported. Chineng Capital acted as the exclusive financial advisor.

Up to now, Nreal’s total financing has exceeded $70 million. Historical investors also include Shunwei Capital, China Growth Capital, Everbright New Economy, Terminus, Hongtai Aplus, iQiyi, and Xinsong Venture Capital, Chinese media 36Kr reported.

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Established in 2017, the Beijing-based company is dedicated to the development, production, and sale of AR and MR products. In 2019, Nreal released the company’s first consumer MR glasses Nreal Light that can be connected to mobile phones.