Forking VR Receives Tens of Millions of Yuan in New Investment
On August 15, Shanghai-based VR content production company Forking VR announced its completion of a pre-A round of financing totaling tens of millions of yuan, with investment from Sequoia China Seed Fund. The funds will be used mainly for product development and technical team expansion. A few months ago, Forking VR received exclusive investment from Source Code Yisu, which operates the seed-stage business of Source Code Capital.
Forking VR was established at the end of 2021. It is now working on VR games, and its product will be an immersive VR game like nothing else on the market, with a specific launch date between the end of this year and next year. In the medium to long term, the company intends to make a VR community, in which people can experience a rich and colorful world together more freely by creating real social experiences in a virtual world.
Gu Changsheng, the founder and CEO of Forking VR, was an early employee of ByteDance, as one of the founders of its recommendation and ad algorithm. He was in charge of and constructed many core business and technical systems, and later experienced the explosive growth of ByteDance. In 2014, he left Amazon and joined Toutiao to work on machine learning and intelligent recommendation algorithms.
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Despite the many challenges that VR still has, Gu Changsheng believes a trend towards explosive growth is now in sight within the VR market. First, the interaction of VR is becoming richer, which brings a steady step-up in gaming experience. Secondly, significant breakthroughs have been made in display technology, with 4K or even higher-definition MicroOLED having a closer to real immersion. Then, again, as Meta prepares to launch its high-end device Cambria within this year, it will also bring a new round of upgrading of VR devices worldwide. And technological progress in peripheral areas such as high-performance GPU, edge computing will also enable the VR ecology to cover a larger range of users.