TCL RayNeo Secures First Round of Financing Worth Over $14M

TCL RayNeo, an AR glasses firm incubated by TCL Electronics, introduced on March 6 that it had efficiently accomplished the primary spherical of financing of over 100 million yuan ($14 million), led by Fosun Capital and Winreal Investment. The funds might be used for the corporate’s technological analysis and growth, mass manufacturing, in addition to the broader market growth of shopper AR glasses.

TCL RayNeo was established on the finish of 2021 with its core groups made up of veterans from tech giants comparable to Tencent, drone maker DJI, Amercian conglomerate Meta, smartphone maker OPPO, video platform iQIYI, and others. The firm has accrued intensive data within the fields of optical show design, AI algorithm fashions, and multimodal human-computer interplay.

Last 12 months, TCL RayNeo mass-produced two progressive shopper XR merchandise. According to iResearch Consulting Group, the corporate occupied 28.4% of the home shopper AR glasses market in 2022, rating first within the trade. At the start of this 12 months at CES, the corporate launched its RayNeo X2, a consumer-grade AR glasses based mostly on an optical waveguide route, which made progress in MicroLED full-color show, mild engine precision and miniaturization. The machine might be formally launched in H1 in 2023.

SEE ALSO: TCL RayNeo Unveils Augmented Reality Glasses at CES 2023

Market analysis establishments usually imagine that the AR trade exhibits nice potential within the subsequent few years. IDC predicts that the five-year compound annual progress charge of the AR market will attain about 70.3%. China Merchants Securities predicts that the worldwide AR/VR trade house will attain almost 2 trillion yuan ($289 billion) by 2025.

Nowadays, nonetheless, the consumer-grade AR glasses trade remains to be in its early phases of growth. Li Hongwei, founder and CEO of TCL RayNeo, mentioned that each one AR glasses makers available in the market type a pyramid. The backside layer of the pyramid is sensible glasses that provide show performance however will not be actual AR glasses. The second layer is made up of the AR glasses that use a Birdbath scheme and waveguide scheme.

The Birdbath scheme is a contact extra mature and has higher show results. It is probably the most broadly used optical scheme at current, however its disadvantages are that it isn’t light-weight and has poor transmittance. The optical waveguide scheme is mild and skinny sufficient, however it’s essential to enhance the show’s brightness, yield and productiveness. However, features that higher characterize the traits of AR glasses have been eliminated, so it’s unattainable to attain the mixing of the digital world and the actual world. In Li Hongwei’s view, the actual AR glasses on the high of the pyramid ought to bear in mind 4 traits: smaller sizes, show, all-weather capacity, and a mixture of the digital world and the actual world.

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