Chinese tech firms invest in augmented reality startup

Chinese tech giants Lenovo and Tencent have joined Comcast Ventures, Horizons Ventures Limited, Banyan Capital and GQY in a new
Chinese tech giants Lenovo and Tencent have joined Comcast Ventures, Horizons Ventures Limited, Banyan Capital and GQY in a new funding round for US-based reality startup Meta

Chinese tech giants Lenovo and Tencent have joined a funding round for US-based augmented reality startup Meta, developing systems to touch and move digital objects.

Silicon Valley-based Meta said in a statement it raised $50 million from a group that also includes Comcast Ventures, and Chinese-based Horizons Ventures Limited, Banyan Capital and GQY.

"It is incredibly gratifying to have the support of big thinkers and investors who understand the importance of creating a new human-computer interface, anchored in science," said Meta chief executive Meron Gribetz.

Meta, which unveiled its headset at TED 2016 in February, claims to be developing a "natural machine" that builds on the principles of neuroscience to create an intuitive computing experience.

It plans to offer the device to aid companies in manufacturing, medicine, education, communication and other industries.

This was the second round of funding for Meta, which previously raised $23 million.


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© 2016 AFP

Citation: Chinese tech firms invest in augmented reality startup (2016, June 14) retrieved 14 May 2021 from https://phys.org/news/2016-06-chinese-tech-firms-invest-augmented.html
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