China-based mixed reality technology developer Nibiru has raised a nine-digit yuan (RMB100m = $15.4m) amount of series C1 funding from property developer Dahua Group’s investment vehicle, Huaqiang Capital, 36Kr has reported.
Also known as Nanjing RuiYue Technology, Nibiru was founded in 2013 and has developed artificial intelligence-equipped interactive audio and video tools leveraging augmented and virtual reality (AR/VR) and 3D imaging technology.
The company’s products are used for education, healthcare, retail and industrial purposes. Co-founder Liu Fengrui said the cash will go toward research and development of AR/VR systems and infrastructure for software applications in traditional industries.
Nibiru had received funding from investors including Qingsong Fund in 2013, before Oriental Fortune Capital added a similarly undisclosed amount of series A funding the year after.
Addor Capital invested an undisclosed amount in a 2015 series A-plus round and returned to join unnamed investors in a $12.3m series B round for Nibiru led by Hezhi Capital later that year. China SME Development Fund and Broad Vision Funds are also among its shareholders, according to 36Kr.
