Chinese company DPVR plans to use a new funding to develop new VR headsets and better position itself internationally.
Chinese VR headset manufacturer DPVR has raised $14.54 million in a new round of financing. One of the lead investors is Chinese venture capitalist Qingdao Microelectronics Innovation Capital. DPVR intends to use the funds to further invest in its own core technology and product development.
DPVR for long-term growth
“Operating within this space [XR industry – ed.] is sometimes more of a marathon than a sprint, and this latest funding enables us to maintain our focus on our long-term growth strategy”, said Chen Chaoyang, CEO of DPVR.
In addition to technological development, the new funds will also be used to strengthen DPVR’s own brand and give it a stronger international presence. Until now, DPVR has been mainly active in China. The recently opened office in Qingdao will serve as the company’s headquarters.
DPVR is one of the most successful manufacturers in the Asian market. According to a report by the market research company IDC, DPVR has secured second place behind Meta in the ranking of the world’s best-selling VR headset in 2021. The company, which is hardly known in western countries, has left the competition around Pico and HTC behind.
DPVR E4: 450,000 VR headsets sold in Asia
Founded in 2015, the company has long operated exclusively in the B2B market, developing Virtual Reality solutions for medicine and education. With DPVR E4, the company announced its first own PC VR glasses for consumers.
According to the manufacturer, the PC VR headset, which costs just under 550 US dollars, has already been sold around 450,000 times in the Asian region.
The housing of the E4 is said to weigh only 280 grams and the LC display offers a resolution of 3,664 × 1,920 pixels with a field of view of 116 degrees and a refresh rate of 120 Hz.