Funding to be used for new product development, expansion of partners and deepened service for customers
Pico Interactive, a global tech company that develops innovative virtual reality (VR) and enterprise solutions, announces the completion of a $37.4M (€31.4M) B+ funding round, supporting Pico’s B2C presence in Asia as well as Pico’s initiatives in Western markets by expanding the number of B2B partners and boosting new product development.
“Pico is looking to provide its users with the best VR experience possible through excellent hardware, a great content ecosystem and numerous strategic partners,” said Zhou Hongwei, CEO of Pico Interactive. “This funding round will not only help us strengthen the accumulation of key technologies but also introduce high-quality VR games and applications onto our consumer Pico headsets in Asian markets. In addition to the B2C growth in Asia, the funding helps us to continue furthering our presence as a leader in B2B VR solutions in the West. We’re continuously looking for ways to better support our partners and this latest financing will help give us the tools we need to make these visions a reality.”
This funding round was jointly completed by Co-Stone Asset Management, Shenzhen Yidun Media Investment Fund, Jianyin International Capital Management (Tianjin), and CCBI Tech Venture (Suzhou) Combined Debt & Equity Private Equity Fund. Pico has now raised a total of $67.23M (€56.48M) in B and B+ funding.
Pico is a leader in developing VR headsets for the enterprise, offering four new headsets in 2020 alone. The Neo 2 and Neo 2 Eye are top-of-the-line 6DoF headsets that feature 4K resolution, enterprise functionality, a counterbalanced design for extended wear, spatial stereo speakers and an all-PU facial interface for hygiene. The Neo 2 Eye model adds eye tracking functionality powered by Tobii Spotlight Technology™, allowing businesses to gain a deeper understanding of customer behavior and enhance training efficiency.
An updated model of the Neo 2 headset – the Neo 3 – is being developed and will be released later this year.
Pico’s G2 4K S and G2 4K Enterprise headsets make Pico the only global company to offer a 3DoF solution for the enterprise. Both headsets have 4K resolution, 101 field of view, as well as silicone straps and an all-PU facial interface for easy cleaning. The G2 4K Enterprise also has a 16 MP single RGB camera and more storage to the base model, making it Pico’s most advanced 3DoF head-mounted display (HMD) ever created.