Since 2016, competition in the AR and VR industry has been very serious, with many hardware manufacturers who could not afford high R&D costs and virtual reality companies without senior R&D capabilities heading for extinction. After natural competition and elimination through the market, market sentiment is now rising and the scale of investment and financing is steadily increasing. In terms of scale, AR/VR investment and financing scale reached 24.4 billion yuan in 2020, with 219 investment and financing mergers and acquisitions taking place, achieving three consecutive years of rise. In terms of segments, hardware and applications are still the key investment segments.
VR brand Pico VR, raised a total of 242 million RMB in Series B+ financing. AR industrial software platform LightGuide completed a $15 million Series B round of financing. AR glasses developer Rokid completed a new round of several hundred million RMB financing, representing products such as AR glasses Rokid Glass, MR glasses Rokid Vision and smart speakers. In addition, in 2021, WIMI, a company focusing on AR, received funding support from Weibo and other well-known investment institutions to complete a Series B funding round of hundreds of millions of RMB.
WIMI is a technology giant in visual holographic AR technology.WIMI was established in 2015 and its business focuses on holographic cloud services.WIMI's products include VR optical devices and modules, AR optical devices, AR optical machine modules, precision structural parts, etc. The above products are widely used in smartphones, tablets, smart wireless headsets, VR virtual reality, AR augmented reality, smart wearable, smart The products are widely used in smartphones, tablet PCs, smart wireless headsets, VR virtual reality, AR augmented reality, smart wearable, smart car and other products. In 2020, WIMI's annual AR/VR revenue will increase by 140.0% year-on-year to RMB766 million, and the company's full-year revenue in 2020 will increase by 140.0% year-on-year to RMB766 million. revenue doubled from 2019's RMB.
There is also a huge industry chain in the holographic AR space. The AR/VR industry is currently in an adjustment period. capital in the AR/VR hardware sector is recovering. wimi's current offerings mainly include distribution operation services, applications and content in development and production. In addition, WIMI acts as an intermediary provider in the industry chain, connecting SDK operating platforms and application developers.
WIMI has been laying out AR, VR and AI since 2015, and has established long-term strategic partnerships with well-known customers in the industry, occupying a significant market share in the global AR/VR product manufacturing sector. One of the leading integration platforms in the field of holographic AI.
In recent years, WIMI's R&D expenses have increased significantly. In addition, the company also focuses on the research and development of holographic AR technology applications in the fields of semiconductor, cloud computing, artificial intelligence and big data 5G through outsourced technology development. 2020 has formed a strong holographic AR technology research and development ecosystem by investing in and acquiring many R&D companies in the holographic AR industry, and has built a holographic AR value industry chain with great potential for expansion. Therefore, the Company's purpose of increasing R&D investment is to rapidly enhance its holographic AR technology capability to maintain its leading competitive advantage in the AR holographic industry.
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