Beijing-based augmented reality (AR) optical module developer NED+AR Display Technology announced today that early this year it had completed RMB 8-digit pre-Series A funding led by Lenovo Capital and Incubator Group, a business group under Chinese consumer electronics manufacturer Lenovo (0992.HK).
NED+AR, founded in late 2015, primarily focuses on R&D of optical display components for AR glasses. NED+AR released an ultra-thin free form surface optical waveguide module available for mass production in April 2016. The module has a 30-degree field of vision and can output 720p images. NED+AR released new models this year with 40- and 45-degree viewing angles.
The current funding will primarily be used for technology R&D, product line construction, and channel advertising, according to founder and CEO Cheng Dewen. NED+AR is planning a "double 100 million plan" over the next two years, in which it will invest RMB 100 mln to build up core product lines for AR, such that the production costs of core AR components are lowered to create a mass market set of AR glasses for 100 mln users.
NED+AR previously won angel funding in November 2015.