HomeFinance NewsFinanceChinese Company Challenges Apple's Dominance with Bold $70 Million Investment

Chinese Company Challenges Apple’s Dominance with Bold $70 Million Investment


Chinese rival to Apple’s Vision Pro raises $70 million, doubles down on new strategy to win consumers


Rokid, a Chinese AR (Augmented Reality) company based in Hefei has raised about $70 million in funding.

This round of funding was led by the city’s government to develop and use AR technology in manufacturing.

Instead of targeting consumers, Rokid is partnering with Hefei to focus on using AR in factories.

The AR glasses enhance equipment safety checks and help reduce training time for workers.

Rokid’s partnership with Hefei aims to set up an “industrial metaverse headquarters, an ecosystem center and a research and development center.”

Rokid believes that industrial customers who value their technology and capabilities won’t be cost-sensitive, thus allowing the company to test new technology with them before introducing it to consumers.

Rokid expects to bring more technological advancements in the coming weeks and sees ample potential in incorporating artificial intelligence with augmented reality.

  • Overall sentiment: positive
  • Positive

    “Rokid raised 500 million yuan ($70 million) in a funding round led by the government of Hefei city.”

    “Rokid founder and CEO Misa Zhu told CNBC in a phone interview Wednesday that the company’s deal with Hefei will focus on using AR for factories.”


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