June 21, 2022 – DPVR, a Shanghai-based company specializing in virtual reality (VR) device design and manufacturing, has recently announced that it has completed a multimillion dollar round of funding.
The round was led by Huaqiang Equity, with support from previous investors Qianyi Equity and Lianxin Funds Management company. DPVR stated that it plans to use the funding to advance its core technology, fund new product development and hire more tech talents so as to strengthen its presence in the VR market.
According to DPVR, investor Huaqiang Equity is now focusing on the virtual and augmented reality (VR/AR) industry, as well as intelligent manufacturing, new energy vehicles, aerospace, industrial software, new materials, and other technology fields. The company has made investments across the whole VR/AR industry chain.
Huaqiang Equity’s co-founder, Yu Chen, said: “With the breakthrough of interaction technology, 5G, XR chips, optical modules, and other related complex technologies, VR hardware has gone through the ‘0 to 1’ technology pioneering stage. The content ecosystem is mature, and it is now accelerating development with the positioning of consumer electronics. In addition, other related concepts and industries such as Web3, NFTs, the metaverse, and more are also rapidly developing.”
Chen continued, “As a metaverse infrastructure builder, DPVR has a long-term investment and advanced strategy in headset hardware and critical core technologies, a stable and mature supply chain system, and excellent mass production capabilities—all of which are expected to keep DPVR at the forefront of the industry and drive the steady growth of the metaverse market worldwide.”
Founded in 2015, DPVR has been focusing on the design and manufacture of VR headsets for the last seven years and owns hundreds of related technology patents. Over the years, the company has released several VR devices, such as its P1 Ultra-4K standalone VR headset powered by the Qualcomm Snapdragon 845 chipset. Most recently, DPVR announced a new tethered 6DoF headset aimed at PC VR gaming, which the company states will also bring users a “superior interactive metaverse experience.”
Commenting on the funding, Sunny (Chaoyang) Chen, founder of DPVR, said: “Our team keeps fulfilling its responsibilities and has been working on value creation for a long time. DPVR plays a vital role in the Chinese VR industry, and has serviced many early adopters of VR gaming over the last seven years.” Chen added, “Our 6DoF gaming headset will be available shortly for elite gamers worldwide, offering users a superior VR experience. We will continue to focus on the gaming community and as a result, DPVR will offer more specialized product options for global gamers, empower global partners, and provide high-quality export products from China to the globe.”
For more information on DPVR and its virtual reality hardware and software solutions, please visit the company’s website.
Image credit: DPVR
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Sam is the Founder and Managing Editor of Auganix. With a background in research and report writing, he has been covering XR industry news for the past seven years.