$100 Million Fund for International Expansion – Nreal

Nreal, a Chinese augmented reality eyewear company, has raised $100 million to develop new products and international fund expansions. Augmented reality indicates technology that allows digital images to be introduced into the real world. This is precisely the area where the world’s largest technology companies are investing.

Nreal’s funding round is estimated at $700 million. Chi Xu, Nreal CEO, said the company plans to spend money on research and development while expanding globally.

According to the CEO, China is a vast market, and the company plans to enter the market next year and in the US and many other countries. Nreal’s AR glasses have not yet been released in China, although Nreal Light, its flagship product, has been retailed in several markets, including Japan, South Korea, and Spain.

Nreal Light is a lightweight device that connects to a smartphone. Through it, users can experience mixed reality applications where digital images are embedded in the real world.

Start-up support includes large investors, including an electric car manufacturing investment group and venture Sequoia Capital China.

According to the director, New Capital is a strategic investor for the company. AR and EV could be fascinating in the future. Xu predicts that there will be more electric cars on the street shortly. People will spend more time in their vehicles, so the combination of AR will reveal lots of other possibilities.

New Product

Xu has announced that Nreal will introduce a new product to the public next week. The CEO noted that the new glasses would have a completely updated design, be more comfortable, lighter, and, most importantly, cheaper than the Nreal Light model. The relatively affordable price of the product allows it to be much easier in other markets, including China.

The new glasses will also be included in the phone, and the founder hopes that the product features will encourage people to use them daily. Global tech titans are excited about augmented reality.

Apple CEO is optimistic about AR, and the company is currently working on the headset. Google, Facebook, Microsoft, and other technology companies are investing in augmented reality.

According to the director of Nreal, the competition in this area will be very good for development and improvement.

Conclusion

Nreal has its operating system called Nebula, which also works on headphones. Developers like Apple can create apps that people will then use with Nreal headphones.

On the platform, the company has 8,000 developers. In September, a judge banned Apple from developing developers Prohibit providing links to users when purchasing an Apple In-App.

The founder of the company wants to offer a friendly business model to the developers. According to him, this means a reduction of the commission. It can also mean providing more services to developers to help with marketing and product improvement.