Alibaba Joins Series A Funding of VR and AR Solutions Provider Plex-VR
7tin.cn, 12/27/17
Shanghai-based virtual reality and augmented reality solutions provider Plex-VR Digital Technology recently announced completion of RMB 9-digit Series A funding led by Chinese internet conglomerate Alibaba Group (NYSE: BABA), GSR Ventures, and SAIF Partners. Plex-VR previously completed RMB 45 mln in angel funding.
Plex-VR applies light field technologies in the 3D modeling, virtual e-commerce, VR live broadcast, and movie special effects domains. Alibaba's C2C e-commerce site Taobao also uses Plex-VR technologies for its Buy+ function.
Plex-VR has developed a set of solutions based on light field capture, processing, and display technologies. Products include:
1. Light field 3D reconstructions of products, people, and scenes;
2. Virtual reality shows;
3. 360-degree, 3D virtual reality live broadcasts;
4. 360-degree, 3D instant playback for sports competitions and films;
5. Virtual gallery tours;
6. Industry AR+ products.
The company's experience spans a variety of industries including virtual e-commerce and shopping, culture and entertainment, film and television, sports, medical care, tourism, museum, and exhibition applications.
Editor's Note: Alibaba piloted "Buy+," a complete virtual reality (VR) shopping experience, during the annual Singles Day online shopping holiday in November 2016. Buy+ virtually transports shoppers to select retail stores internationally, allowing them to experience the entire shopping process from product selection to payment through VR.
Keywords: Plex-VR VC M&A funding software Series A GSR Ventures SAIF Alibaba Group BABA virtual reality augmented reality
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