Chinese AR Glasses Company Rokid Raises $70 Million in Funding Round
Chinese augmented reality (AR) glasses and software company Rokid has announced that it raised 500 million yuan ($70 million) in a funding round led by the government of Hefei city. Hefei, known for backing electric car startup Nio, is a hub for autos and semiconductor manufacturing near Shanghai. While Rokid sells AR glasses for consumers, its deal with Hefei will focus on utilizing AR technology in factories.
AR Glasses Improve Efficiency and Safety in Industrial Settings
Rokid’s CEO Misa Zhu stated that AR glasses can enhance equipment safety checks and reduce training time for workers. According to Zhu, Rokid already holds over 60% market share in industries such as energy in China. The collaboration between Rokid and Hefei will establish an “industrial metaverse headquarters, an ecosystem center, and a research and development center.” This partnership aims to leverage AR technology to improve productivity and safety in industrial settings.
Testing New AR Technology with Industrial Customers
Zhu mentioned that since businesses prioritize product capabilities over price, Rokid can test new AR technology with industrial customers before working on cost reduction and launching it for consumers. The company plans to make more tech announcements in the coming weeks and expects significant potential from the integration of artificial intelligence (AI). Zhu believes that the combination of AI and AR will revolutionize people’s lives in the next five to ten years.
China’s Focus on Advanced Manufacturing
While some companies have diversified their supply chains away from China due to geopolitical factors and labor costs, Beijing aims to strengthen domestic capabilities in advanced manufacturing. This funding round highlights China’s commitment to fostering innovation and developing cutting-edge technologies like AR.
Hot Take: AR Glasses and AI Will Transform Industries
Rokid’s funding success and partnership with Hefei city demonstrate the increasing adoption of AR technology in industrial settings. With the ability to enhance safety checks and streamline training processes, AR glasses offer significant benefits to various sectors. Moreover, Rokid’s integration of AI with AR holds tremendous potential for transforming industries and improving productivity. As AR technology continues to advance, we can expect further innovations and applications that will shape the future of work.
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