$70M Boost: Rokid Secures Funding To Propel Metaverse Advancements Amid Apple Vision Pro Release

Jan 10, 2024•almost 2 years ago

Amount Raised

$70 Million

Redwood CityComputer Hardware Manufacturing

Investors

Cec CapitalHefei Municipal Government

Description

Rokid, a leading Chinese augmented reality (AR) company, recently announced a substantial milestone in its journey, raising approximately $70 million (500 million RMB) in a strategic financing round. The investment, led by the Hefei Municipal Government, marks one of the most significant recent AR investments in China and signifies a major step towards advancing the metaverse industry. CEC Capital functioned as Rokid’s exclusive strategic and financial advisor in this transaction. The announcement coincides with Apple gearing up for the release of its Vision Pro headset.

Company Information

Company

Rokid

Location

Redwood City, California, United States

About

Empowering frontline workers and helping our clients minimize downtime and maximize efficiency with Industrial AR is our core, which is reflected in our flagship product, X-Craft. Mixing cutting-edge tech and ruggedness, X-Craft is the first and only 5G, explosion proof AR glasses. It is already empowering frontline workers with three key functions. Remote collaboration enables on-site teams to receive expert guidance by livestreaming inspection and maintenance processes to remote experts, closing the knowledge gap. AI-powered smart inspection improves accuracy and automates processes to increase efficiency. 2D/3D digital workflows increase quality and efficiency, as well as keeps workers safe by eliminating the need to occupy their hands with physical manuals.

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VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers

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