AR smart glasses developer MAD Gaze receives RMB130m in Series A financing round

AR smart glasses developer MAD Gaze has completed a Series A financing round of 130 million yuan from DNS and Black30 Venture. In 2019, the company announced that it had secured 80 million yuan in Pre-A financing round.

AR smart glasses developer MAD Gaze has completed a Series A financing round of 130 million yuan from DNS and Black30 Venture. In 2019, the company announced that it had secured 80 million yuan in Pre-A financing round.

The proceeds will be used to continue the development of the fifth generation of smart glasses, new optical technologies, AR underlying technology algorithms, smart watches and market expansion. Currently, the team is preparing for a new round of financing.

MAD Gaze is a Chinese startup focusing on consumer AR smart glasses. Established in 2013, the company has launched 8 AR smart hardware products, including AR glasses Ares, X5, X5S, X5P, Vader, Glow, Glow Plus and smart Watch “MAD Gaze”.

As of now, the company has established cooperation with Nespresso, Decathlon, Cathay Pacific, IBM, Microsoft, Oracle, LV, OPPO and Sony. In Q4 2019, the company’s new products raised over five million yuan worth of orders on the overseas crowdfunding platform Indiegogo and completed mass production in January. The products are being shipped to 45 countries and regions around the world.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/06/06/ar-smart-glasses-developer-mad-gaze-receives-rmb130m-in-series-a-financing-round/.

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