Alibaba recently led a $60 million investment round into augmented reality glasses maker, Nreal. Augmented reality technology imposes digital images over the real world. Users can wear Nreal’s two glasses products, the Light or the Air, to access AR applications such as games or movies.
Nreal said the $60 million round will be used to increase investment in research and development and accelerate expansion into new markets this year — including China. So far, Nreal has been selling its products in a handful of markets including South Korea, Japan, Spain, and the U.S.
Alibaba’s investment in Nreal could hint toward a collaboration between the two given the start-up’s work with its other investors. For example, Nreal and Nio last year announced AR glasses tailored for electric vehicles. Alibaba has already announced plans to launch augmented reality glasses this year for virtual meetings.
Nreal also said the new cash injection would be used to strengthen existing partnerships with developers and partners “to deliver a wider range of content and experiences” to users.
(All information was provided by CNBC)
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