Apple Vision Pro's Chinese Rival, Rokid, Raises $70M In Funding Round, Plans To Utilize AR Technology For Manufacturing

Chinese augmented reality (AR) glasses and software company Rokid has successfully secured 500 million yuan (about $70 million) in a funding round. The funding was spearheaded by the government of Hefei City, a key hub for auto and semiconductor production near Shanghai.

What Happened: Rokid, a direct competitor with Apple’s Vision Pro, has plans to utilize the funds to advance its AR technology in the industrial sector. The company’s glasses, already widely used in sectors such as energy, are designed to enhance safety checks and reduce training time for workers. The company aims to further develop its AR technology for industrial clients before subsequently bringing it to the consumer market, reported CNBC on Thursday.

Rokid’s agreement with Hefei includes the establishment of an “industrial metaverse headquarters, an ecosystem center, and a research and development center,” as per local state media.

The funding comes at a time when the Chinese government is pushing to strengthen its domestic capabilities in advanced manufacturing, as companies have been diversifying their supply chains away from China due to geopolitical reasons and labor costs.

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Why It Matters: Apple Inc‘s AAPL Vision Pro virtual reality headset, based on Spatial Computing technology, is anticipated to be released on Feb. 2. This development by Rokid, a significant player in the AR space, is likely to intensify competition in the market.

In recent years, China has seen a surge in AR and VR technology, with a focus on industrial applications. This funding round is a testament to the growing interest and investment in AR technology in China, and Rokid’s plans to focus on industrial applications are in line with this trend.

Rokid’s plans to use AI in conjunction with AR technology, as per the company’s CEO Misa Zhu, are expected to have a significant impact on people’s lives in the next five to ten years.

Photo by Sergey Nivens on Shutterstock

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