Chinese AI smart glasses maker Hangzhou Guangli Technology Co., Ltd. announced on Thursday that it has completed an A+ round of financing in which it brought in over 100 million yuan ($15.67 million). Its investors are Full Harvest Asset Management, which is a USD fund owned by Alibaba‘s angel investor Wu Jiong, Songyang Industry Fund, and existing shareholders Ivy League Capital, Linear Capital and Vertex Ventures.
With the fund, Guangxian Technology will deepen its layout in the consumer AR smart glasses market, invest more in light field and holographic technology, improve mass production and delivery capacity, and release next generation of products earlier.
In August this year, Guangli Technology released Holoresin™, a holographic resin optical waveguide, and then launched another model of AR holographic smart goggles Holoswim™ in September. The new product could provide users with real-time swimming data under the water. Positive feedback has been collected from users in pre-sale, and the cumulative sales volume during the pre-sale period exceeded 2,000 sets.
It is learned that in the beginning of next year, Guangli Technology will release its annual flagship machine, AR smart glasses designed for general consumption, based on binocular diffraction optical waveguide.
Guangli Technology was established in 2017 beside the iconic West Lake of Hangzhou, eastern China. Its business focus is general use AR products, and it intends to expand the human horizon through light field and holographic technology. Its founding team has backgrounds in Zhejiang University, Cornell University and Delaware University, to name a few. At present, the R&D team has mastered more than 170 Chinese and international patents in the whole industrial chain.
Guangli Technology has raised several hundred million yuan already, and the team is now preparing for a new round of financing.