On Monday, IrisView Technology announced that it has obtained nearly 100 million yuan ($15.63 million) in Rounds A and A+ of financing, with Jinshajiang Venture Capital and Source Code Capital serving as lead investors, respectively.

IrisView Technology was established in 2016, focusing on building operating systems serving terminal devices such as AR/VR. The company hopes that through its exploration, it can help the arrival of space-based internet and promote the more efficient and convenient interaction between people and information.

According to Source Code Capital, IrisView Technology has cooperated with a large number of customers, including top smartphone manufacturers, provided underlying systems for a variety of XR products, jointly launched reference designs with ODM manufacturers, accumulating rich industry experience. It has established extensive cooperation with upstream and downstream industries.

Fan Shunhao, who graduated from Tsinghua University, founded the company in 2016. He said: “From the perspective of industry, the development scale of the XR industry is quite large at present and will maintain a high growth state in the long run. In the VR market, Facebook recently announced that it changed its name to Meta and aims at the Metaverse. The shipment of Quest continued to grow, and top companies such as Apple and ByteDance frequently invested in hardware development.

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Fan added, “In the AR field, the technical challenges of core components such as optics has been gradually broken through. From the perspective of technology development, from MS-DOS to Windows, from IOS and Android, the way we interact with computers is constantly changing. I believe XR devices are expected to become a new generation of computing platform after PCs and smartphones.”