DPVR completes a new round of multimillion-dollar financing
DPVR, a Shanghai-based company specializing in virtual reality (VR) device design and manufacturing, recently announced that it had raised multimillion dollars in funding. The round was led by Huaqiang Equity and previous investors： Qianyi Equity and Lianxin Funds Management company, which was funded by Union Optech(300691.SZ).
To keep its strengths in the VR market, DPVR plans to use the funds to advance its core technology, new product development, and hire more tech talents.
In recent years, VR has been constantly updated and iterated rapidly on chips, displays, and data transmission. Since the metaverse concept exploded, the industry has become even more competitive.
DPVR has focused on designing and manufacturing VR headsets for seven years. Despite hundreds of technology patents it owns, it does not slow down its pace.
In 2015, it was founded to focus on VR headsets; in 2016, it released the world’s first mass-producible standalone VR headset M2; in 2018, it launched the first PC-VR E3 Polaris with laser 6DoF positioning technology. In 2021, DPVR released Qualcomm Snapdragon 845-based standalone VR headset P1 Ultra-4K.
In June 2022, DPVR announced that it would enter the mass market with the launch of a new generation 6DoF gaming VR headset based on machine vision technology, bringing users a superior “metaverse” interactive experience.
Huaqiang Equity is now focusing on AR/VR industry, intelligent manufacturing, new energy vehicles, aerospace, industrial software, new materials, and other technology fields. It has made investments across the whole AR/VR industry chain. This time, investing in DPVR will perfect its metaverse strategy. DPVR will also fully take advantage of its resource to reach more cooperation with content creators and supply chain partners. Although the investment process was not that fluent due to Shanghai’s lockdown and previous investors, the delivery was accomplished with the full collaboration of both existing and new shareholders.
QIANYI Equity and LSCF invested in DPVR in 2021, and this increase reflects their sustained belief in the “metaverse” development potential and the technological benefits of DPVR products.