Chinese Magic Leap Rival Raises $40 Million From Kuaishou, Sequoia
- Hillhouse and CICC also took part in the $40 million financing
- Silicon Valley giants are exploring the nascent field of AR
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Chinese augmented reality headset maker Nreal raised $40 million in a fundraising round led by Tencent Holdings Ltd.-backed video startup Kuaishou, bankrolling its expansion into the nascent field of projecting digital objects onto the real world.
The so-called Series B1 funding round drew other investors including Sequoia China, Hillhouse Capital and CICC Capital, Nreal said in a statement, adding it’s raised $70 million to date.