Chinese XR startup Nreal raises $40 million

Qualcomm-powered Nreal, one of the most-watched mixed reality startups in China, has announced securing $40 million from a group of high-profile investors.

The fund, which is a Series B round, is expected to bring more adoption to its portable augmented headsets.

According to press, Kuaishou, the archrival to TikTok’s Chinese version Douyin, led the round, marking yet another video platform to establish links with Nreal following existing investor iQiyi, China’s own Netflix.

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Recently, like other major video streaming sites around the world, Kuaishou and iQiyi have dabbled in making augmented reality contents.

The round also saw participation from other backers including GP Capital, which counts state-owned financial holding group Shanghai International Group and major Chinese movie studio Hengdian Group as investors.

The latest round brings Nreal’s total raise to more than $70 million and will accelerate mass adoption of its mixed reality technology in the 5G era.

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