DeepMirror Completes A-Round Financing Worth Tens of Millions of Dollars
DeepMirror, a Chinese technology startup, has recently completed an A round of financing worth of tens of millions of dollars. The funds are mainly to be used for technology R&D, production and recruitment. The firm will also soon start round A+ financing.
The recently completed round of financing was jointly led by Shanghai Artificial Intelligence Industry Equity Investment Fund and IDG Capital, followed by 37Games, a leading game company in China, and DeepMirror’s existing shareholders OPPO, Eight Roads, BV Capital, Shenzhen Xinwangda Electronic and Fosun RZ Capital.
Founded in 2019, DeepMirror integrates many core technologies such as high-precision 3D recognition and tracking, 3D semantic segmentation and understanding, real-time positioning and map construction, and edge computing. The firm is building a 3D metaverse infrastructure with a 1:1 ratio with the Earth, and is realizing large-scale MMO games (massively multiplayer online games) or social applications with the real world as the playground, which can be applied to mobile terminals such as smartphones, smart glasses and smart cars.
The MirrorVerse, the main product of DeepMirror, integrates pre-sensor fusion technology, multi-person heterogeneous positioning technology, and high concurrency and low latency cloud architecture. The application has achieved full coverage of AR glasses, mobile terminals and large screens.
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According to a Bloomberg Intelligence report cited by the company, it is estimated that by 2024, the global metaverse market will reach $800 million. By 2030, the metaverse market will reach $2.5 trillion. According to Forbes, Morgan Stanley predicted in a report released to investors on November 17, 2021 that by 2024, the metaverse market will reach $8 trillion and may become the next generation platform of social media, streaming media and games.