November 21, 2023 – Rokid, a provider of augmented reality (AR) technologies, has recently announced the successful completion of a USD $112 million Series C funding round, with a key investment from NetDragon Websoft Holdings Limited.
Rokid stated that the investment, along with a five-year partnership agreement, will help accelerate the creation of next-generation interactive user experiences that will “form the backbone of tomorrow’s metaverse,” according to the company.
The strategic partnership will combine Rokid’s full stack technology solutions that include hardware, software, and operating systems, as well as its expertise in AR glasses and headsets, with NetDragon’s experience in internet communities and scaling multiple platforms in both the gaming and education sectors.
“We are happy to have NetDragon onboard as not just our investor but also our close strategic partner going forward.” said Misa Zhu, Founder and CEO at Rokid. “As a leading unicorn in the rapidly growing AR industry, Rokid is a product-oriented platform company focusing on human-computer interaction technology with a strong track record in multiple industrial and consumer applications.”
Zhu added, “We look forward to working with NetDragon to expand our opportunities by leveraging their knowledge and know-how in education and gaming, as well as their global sales network. We believe that the combination of NetDragon and Rokid will bring new momentum in product development and breakthrough innovation to the industry.”
Also commenting on the announcement, Dr. Simon Leung, NetDragon Group Vice Chairman and Executive Director, noted: “We are excited with our investment in Rokid as we believe AR will be one of the core technologies to enable the metaverse in the years to come.”
According to Dr. Leung, NetDragon sees AR becoming one of the key channels through which users will interact with one another in the metaverse. This is partly due to the fact that AR is better suited to longer usage when compared to VR, which as a result helps to broaden the number and variety of applications, particularly with regards to education and gaming use cases.
Dr. Leung added: “Our partnership with Rokid will open up opportunities for us to design products with a new level of user experience with the application of AR technologies, and at the same time accelerate our go-to-market for our AR-enabled product offerings.”
To find out more about Rokid and its augmented reality entertainment solutions, please visit the company’s website.
Image credit: Rokid
Sam is the Founder and Managing Editor of Auganix. With a background in research and report writing, he has been covering XR industry news for the past seven years.