Lingxi AR Wins Nearly $16B in Round-B Financing
Augmented reality (AR) optical display technology firm Lingxi AI announced on Wednesday its completion of a B round of financing worth about 100 million yuan ($15.8 million). Investors in this round include Xiamen Meiya Wutong Investment Management, FIH Mobile Limited, Hangzhou MDK Opto, Beijing Tianhe Venture Capital and Shenzhen Wudao Capital.
After this financing round, Lingxi AR will continue focusing on the R&D of AR optical waveguides, solving problems related to the automatic production of arrayed waveguides and conducting further explorations of the market. The firm will also continue the R&D of holographic waveguide technology and its mass production. Meanwhile, it will accelerate construction and promotion of an AR industry chain.
Founded at the end of 2014, Lingxi AR has been focusing on optical waveguide technology for AR glasses. At present, it has AR waveguide modules which are thinner than ordinary lenses for myopia and weigh only 11.5 g. It has a mass production capacity of 10,000 for ultra-small optical waveguide modules. Finally, the firm has nearly 200 customers from medical, military, industrial manufacturing, power grid and other industries.
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In order to better adapt AR to business scenarios in multi-subdivision fields and to build a complete AR solutions service system, Lingxi AR and Xiamen Meiya Pico, a Chinese company principally involved in the digital data forensics industry, have reached a strategic cooperation agreement in the fields of emergency security, social work and governance.
In addition, in order to further improve the mass production efficiency and yield of arrayed waveguide lenses, Lingxi AR announced that it will establish a joint venture company with Hangzhou MDK Opto, an optical and optoelectronic component manufacturer that is a supplier for Apple. The two firms will jointly cooperate in the optical cold processing of arrayed waveguides, aiming at the consumer market.