VR Firm AntVR Wins RMB 300 Mln Series B from Gosun Telecom

Tencent Tech, 12/29/15

Beijing-based smart wearable and virtual reality solutions developer Yishi Technology (AntVR) recently announced that the company has secured RMB 300 mln Series B funding from Guangdong-based telecom equipment provider Gosun Telecommunications (300098.SZ). With completion of the funding, AntVR will have a valuation of RMB 830 mln, and Gosun will hold a 36% stake.

Gosun plans to integrate AntVR's relevant technology into its industrial applications and improve Gosun's video processing technology. Both parties will also focus on research and development of VR products, business development and applications.

AntVR develops wearable products for virtual reality, augmented reality, and holography. Founded in 2013, AntVR previously landed RMB 18 mln angel funding from PreAngel Leili Capital and Shenzhen CDF-Capital in May, 2014, and USD 10 mln Series A from Sequoia Capital at the end of 2014.

Editor's Note: Gosun is a developer and manufacturer of communication base station and equipment room operation and maintenance informatization systems, communication base station and equipment room energy-saving systems, and video monitoring systems.

Keywords: funding Series B Gosun Telecommunications 300098.SZ M&A hardware AntVR virtual reality augmented reality

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