VR firm raises US$15m in investment

Financing to be spent on research into virtual reality tracking technology to boost commercialization with high precision and low cost devices. 

NOLO VR, which offers VR and interactive devices, has raised US$15 million in its latest round of financing, to be used on research of technology upgrading.

The financing was led by Joy Capital, followed by BlueRun Ventures and Peakview Capital.

Research into the company’s virtual reality tracking technology will boost VR commercialization with high precision and low cost VR devices. NOLO VR has contributed to reducing the VR hardware price to US$300, compared with over US$1,000 or highly depending on powerful but expensive PCs, said the company.

The VR market has rebounded on integration with 5G and cloud technology development, analysts said.

NOLO VR, with partners including Google, Huawei, Xiaomi, Pico, iQiyi, Skyworth and DPVR, has users in more than 70 countries and regions around the world. 

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