Nio Capital has led a $20 million Series B round of funding for VR interactive technology company NOLO VR, according to a report by local media Cyzone.cn on February 25.
The funds will be used for NOLO VR's next-generation interactive technology research and development, new product mass production, and content ecology construction, the report said.
NOLO VR was founded in Beijing in 2015 and has more than 200 patents across 12 countries.
NOLO VR is the only mobile VR hardware brand in the world other than Oculus that owns one of the most core key technologies of VR - 6DoF interaction technology.
NOLO VR's PolarTraq acoustic and optical positioning interaction technology has been applied to VR all-in-one machines, short-focus VR, mobile VR, PCVR, and other products.
NOLO VR will launch two new mobile 6DoF VR products in 2021, one of which will be equipped with NOLO VR's newly developed SodarTraq 6DoF VR interaction technology.
Ian Zhu, the managing partner of Nio Capital, said, "NOLO is deeply cooperating with operators, including the underlying technology to content operation, and the ecosystem has been gradually built up in the past few years. "
"NOLO has its own patented technology and its products have been widely used in various VR formats. Training, sales, experience, and marketing in the automotive industry can be organically combined with NOLO's VR products. We are very optimistic about NOLO's development," Zhu said.
Nio Capital is a private equity firm that currently manages RMB 10 billion ($1.5 billion) in direct and participating funds.
Its first RMB fund was jointly launched by Nio, Sequoia China, Hillhouse Capital, and Yangtze River Industry Fund.
Nio Capital's investments are mainly focused on the automotive, energy, and high-tech sectors, involving electric vehicles and core components, new energy and energy internet, autonomous driving and intelligent systems, connected car and mobility services, new materials and related applications for systematic layout.
It has invested in companies such as ShouqiYuche, Dida Chuxing, Momenta, Ronbay Technology, and Shenzhen United Winners.
(Source: NOLO VR website)
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