E-commerce firm Alibaba has led a RMB100m ($15.4m) pre-series A round for China-based virtual and augmented reality technology developer Plex-VR Digital Technology, Yicai Global has reported.
Venture capital firm GSR Ventures and private equity firm SAIF Partners also participated in the round.
Plex-VR is looking to develop virtual and augmented reality equipment that makes use of artificial intelligence and light field technology, which seeks to reproduce how the human eye sees visual images.
The company’s technology will eventually be applied to areas such as the 3D reconstruction of environments and security control. It plans to use the pre-series A capital for technology development and to scale its business.
Plex-VR had previously raised RMB45m in 2016 and its earlier backers include Shanghai Alliance Investment, the investment arm of the city of Shanghai’s municipal government.