Chinese AR Company Rokid Raises $70 Million in Funding for Industrial Applications

Rokid, a Chinese augmented reality (AR) technology company, recently announced that it has raised 500 million yuan ($70 million) in a funding round led by the government of Hefei city. While the company sells AR glasses for consumers, its partnership with Hefei will focus on using AR for industrial applications.

AR technology allows digital images to be imposed over the real world, and Rokid already has a significant market share in industries such as energy in China. The company’s industrial partnership will establish an “industrial metaverse headquarters, an ecosystem center, and a research and development center,” according to local state media.

Rokid plans to make more tech announcements in the coming weeks and expects significant potential from the incorporation of artificial intelligence. The CEO of Rokid, Misa Zhu, believes that “AI plus AR is going to change people’s lives in the next five to ten years.”

Despite diversification efforts by companies to reduce their reliance on China due to geopolitics and labor costs, Beijing aims to build up domestic capabilities in advanced manufacturing. Rokid’s partnership with Hefei is part of this initiative.

The company’s industrial applications of AR can help with equipment safety checks and reduce the time workers need to spend on training. Rokid’s cooperation agreement with Hefei city will also allow the company to test new AR technology with industrial customers before rolling it out to consumers.

Rokid’s focus on industrial applications sets it apart from Apple’s Vision Pro, which is geared towards consumers and virtual reality. However, both companies are investing in AR technology, which has the potential to significantly impact various industries and change the way we interact with the world around us.