China-based augmented reality (AR) product developer HiScene has secured almost RMB100m ($14.9m) in a series B round featuring social image retouching platform Meitu, China Money Network reported today.
Investment firm Shanghai Cableway Investment led the round, which included Sincere Capital and Vstar Capital.
HiScene produces AR hardware and software products, and released a set of AR goggles in November 2016 in partnership with computer vision processor producer Inuitive and advanced illumination technology provider Heptagon.
The company has also created a software development kit that enables users to build AR mobile apps that utilise image recognition technology.
The capital will support the ongoing development of HiScene’s technology as it looks to continue expanding and commercialising its product range. Meitu and venture capital firm GGV Capital had both provided funding for the company in the past, according to China Money Network.