Lenovo Capital and Incubator Group has provided $14.4m in series A funding for the augmented reality module technology developer having also led its last round.
China-based augmented reality (AR) technology developer Beijing NED+AR Display Technology has received a RMB100m ($14.4m) series A investment from a subsidiary of electronics manufacturer Lenovo.
Lenovo Capital and Incubator Group supplied the funding, having previously led a pre-series A round of undisclosed size for the company in 2017. At the time, China Money Network reported it as an eight-figure renminbi investment (RMB10m = $1.5m).
Founded in 2015, NED+AR designs and produces optical modules that are used in augmented reality and virtual reality smart glasses. Its NED + Glass X2 product uses combination of senses to create an eight-million pixel camera.
The series A funding will be used to scale the production of optical modules for AR smart glasses, as well to expand the development of headwear products such as AR smart glasses.
He Zhiqiang, senior vice-president of Lenovo Capital and Incubator Group, said: “When the virtual world overlays with the real world, a significant change will come in the application environment of various products. AR and [virtual reality] will become the new-generation computing base in the smart internet era.”