Rokid, a Chinese augmented reality (AR) glasses and software company, has secured 500 million yuan (about $70 million) in a recent funding round. The funding was led by the government of Hefei City, a major hub for auto and semiconductor production near Shanghai.
Rokid, a direct competitor with Apple’s Vision Pro, plans to use the funds to advance its AR technology in the industrial sector. The company’s glasses are already widely used in industries such as energy, where they enhance safety checks and reduce training time for workers. Rokid aims to further develop its AR technology for industrial clients before eventually bringing it to the consumer market.
As part of its agreement with Hefei, Rokid will establish an “industrial metaverse headquarters, an ecosystem center, and a research and development center,” according to local state media. This funding comes at a time when the Chinese government is focused on strengthening its domestic capabilities in advanced manufacturing, as companies have been diversifying their supply chains away from China due to geopolitical reasons and labor costs.
Apple’s Vision Pro virtual reality headset, based on Spatial Computing technology, is set to be released on February 2. Rokid’s development in the AR space is likely to intensify competition in the market, as it is a significant player in the industry.
China has experienced a surge in AR and VR technology in recent years, particularly in industrial applications. This funding round demonstrates the growing interest and investment in AR technology in China. Rokid’s focus on industrial applications aligns with this trend. The company’s CEO, Misa Zhu, has stated that Rokid’s plans to use AI in conjunction with AR technology will have a significant impact on people’s lives in the next five to ten years.
Overall, Rokid’s successful funding round highlights the importance of AR technology in various sectors, including industrial applications. As the industry continues to grow, companies like Rokid are at the forefront of developing innovative solutions that enhance productivity and safety for workers.
