AR Glasses Maker Rokid Closes $112M Founding Round

Rokid Inc., an augmented reality (AR) glasses manufacturer based in Hangzhou, China, just closed a Series C funding round for the tune of $112 million.

The strategic investment round led by NetDragon Websoft Holdings Ltd. brought Rokid’s valuation to $1 billion. The new funds will be geared towards expanding the company’s reach overseas, as well as other initiatives to bring products to market.

Founded in 2014, Rokid develops an open-source intelligence voice operating system known as ‘YadaOS‘ that was first released in 2016. The company also makes AR glasses with gesture and voice control for indoor and outdoor industry use and glasses for healthcare workers, logisticians, and field servers that can be used to collaborate remotely. Its lightweight AR ‘Joy Glasses‘ are aimed at customers in remote work environments.

NetDragon focuses on metaverse technologies, multiplayer games, and education. According to its executive director and vice chairman Dr. Simon Leung, the new relationship with Rokid will create “opportunities” for the company to “design products with a new level of user experience with the application of AR technologies.”

According to the report, the partnership will last five years as both companies use their respective expertise to work towards improving and building new metaverse experiences. Worth noting, the move comes at a time when China appears to be lightening its stance on Web3 tech like NFTs and crypto.

Metaverse Tech Is Being Embraced by Industry

The new funding round and partnership is big news for the metaverse and the development of AR technologies in China. But Rokid and NetDragon aren’t the first companies to invest in nascent technologies to make industries more efficient. At Rarity Sniper, we’ve covered several articles about AR, VR, and other metaverse tech being used to train and assist workers. Here are the top stories.

First, about two months, Hitachi, a global electronics company based in Tokyo, Japan, announced it was using the metaverse to train skilled workers. In 3D environments, veteran workers can use VR tech and off-the-shelf cameras to train new hires or less experienced workers.

Next, in July, Bank of America reported it had integrated the metaverse and AI into its new employee onboarding process. The nascent technologies let new hires use simulations to engage in work-related scenarios.

Finally, about a year ago, the automaker Renault launched an industrial metaverse that it forecasts will save the company over $300 million by 2025. Using Big Data, 3D tech, and the cloud, the metaverse creates a real-time virtual simulation of its factories that can be monitored to assure quality production and maximum efficiency.

It’s clear that AR and VR technologies can be useful in work environments, from factories to office meetings and everything in between. While it’s taking time for these technologies to catch on in a big way, the latest funding round from Rokit could move the world further in that direction. At Rarity Sniper, we’ll be on the hunt for any updates to the story.