AR startup Meta raises $50M in Series B Round
Each step of Augmented Reality is news!
The virtual world
To bring the real world experience at home, Virtual Reality & Augmented Reality were invented. Virtual reality has become the main attraction among users of today’s time. And that makes companies develop their own VR headsets. Earlier Google came with Google Cardboard, A cheaper VR headset made from cardboard that delivered the best experience with smartphone supporting gyroscope sensors. Similarly, other big companies started building their own VR headset and launching them alongside their mobile device.
Some of them include – One Plus VR, Samsung Gear VR, Oculus Rift and many more.
Today, One Plus is launching its new flagship – One Plus 3 alongside their all new VR headset.
Meta raises $ half million
AR Startup, Meta came forward and released its own VR & AR headset. Earlier this year, Meta launched its all new headset, Meta 2. The startup managed to raise raised $50 million in a Series B round of funding. Horizons Ventures Limited invested in Series A round along with the investments from other companies like Lenovo, Tencent, Banyan Capital, Comcast Ventures, and GQY.
Meta was strict regarding its valuation after the funding and didn’t let anyone know about its valuation. But, sources from VC Experts points to a valuation of up to $307 million post-money for this latest round.
Investors believe that only Meta can compete with big companies like Facebook’s Oculus and Microsoft’s Magic Leap. Meta develops its own software and hardware and displays a great outcome with this combination.
“In our view, Meta has built a world-class team,”
“Meta is probably the only startup which has the capabilities to compete with giant companies’ projects like Microsoft Hololens and Magic Leap.”
– Bin Yue, Founding Partner of Banyan Capital, in a statement.
With this token of appreciation received from investors, Meta looks forward to expand its market like China and is working on next generation of its headset, the Meta 3. The Company plans to develop its own apps using its own technology. Meta’s funding is a sign of how investors are keen to pour money in AR field.
- Meta is the only Startup which develops its own AR/VR headset software and hardware.
- Meta raised $50 million in Series B round Funding.
- Meta looks forward to expand its market like China and is working on next generation of its headset, the Meta 3.