Augmented Reality Eyewear Startup NREAL Bags USD 60 million Funding From Alibaba

Alibaba, the Chinese online marketplace, led a USD 60 million fundraising round for augmented reality (AR) startup Nreal.

The company's current series C+ financing round increased its total investment to $200 million in less than a year. The additional investment will be used for research and development, boosting the company's expansion into new areas and fortifying existing relationships with developers and partners.

Nreal was one of the first companies to introduce consumer augmented reality glasses, which are now accessible in six countries, including the United States, where its two models are available in Verizon shops worldwide. The device, which was unveiled in 2019, has capabilities like as video streaming and interactive gaming, which were made possible by agreements with technology firms.

Additionally, Nreal is poised to unveil augmented reality glasses made specifically for electric automobiles. The new look, developed in collaboration with NIO, is scheduled to debut in 2022.

Alibaba's investment in Nreal comes on the heels of a series of strategic investments by a variety of companies and organisations, including Kuaishou, Yunfeng Capital, and iQIYI.

This year, the business intends to accelerate the worldwide adoption of augmented reality glasses by forming new relationships with companies, developers, and content providers.

About Nreal

Nreal is driving the world's revolutionary augmented reality transition and is the only business to have commercialised consumer augmented reality glasses on a worldwide scale. Nreal, which is widely acknowledged for its exceptional display technology and product design, has partnered with over ten prominent carriers and launched its product in six countries to far.

Nreal, founded in 2017, initially gained global attention in early 2019 with the launch of Nreal Light, the world's first consumer augmented reality glasses. Not only did it have a ground-breaking design, but it was also the first augmented reality glasses to be linked to the mobile content ecosystem. Nreal now employs up to 400 people and has received about USD 260 million from a number of respected venture capital companies and industry leaders, including Alibaba, Kuaishou, Nio Capital, Yunfeng, Sequoia, Hillhouse, APlus, CICC Asset Management, CPE, Shunwei, China Growth Capital, and iQIYI.