Alibaba makes $60M metaverse guess on AR glasses agency Nreal

Augmented actuality (AR) glasses maker Nreal raised US$60 million in its Sequence C+ led by Alibaba, which joins rival Chinese language tech giants Tencent and ByteDance in a race into the metaverse. 

See associated article: Why the metaverse is a trillion greenback alternative

Quick information

• The Chinese language AR machine producer has stood out amongst Chinese language AR startups, with its newest spherical elevating its 12-month funding to US$200 million. 

• Nreal mentioned in a press launch that it plans to make use of its contemporary funds for content material and app improvement, in addition to home and world expansions. 

• AR and digital actuality (VR) headsets are slated to play main roles within the metaverse, with Meta (previously Fb) and Microsoft already controlling giant chunks of the market share, because the business waits for Apple to make its extremely anticipated VR/AR machine announcement.

• Chinese language tech large ByteDance acquired a VR machine maker in August 2021, whereas Tencent revealed its plans to take action in January 2022. 

See associated article: Foxconn’s Taiwan subsidiary receives funding from Google for metaverse initiatives