Apple Vision Pro's Chinese Rival, Rokid, Raises $70M In Funding Round, Plans To Utilize AR Technology For Manufacturing
Portfolio Pulse from Benzinga Neuro
Chinese AR company Rokid has raised $70 million in a funding round led by the government of Hefei City. Rokid, competing with Apple's Vision Pro, plans to use the funds to enhance its AR technology for industrial use, with a focus on safety and training in sectors like energy. The company also intends to establish an industrial metaverse headquarters and R&D center in Hefei. This move aligns with China's push to strengthen domestic advanced manufacturing amid supply chain diversification away from China.
January 12, 2024 | 8:18 am
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Apple Inc., with its upcoming Vision Pro VR headset, faces increased competition from Rokid's recent $70M funding aimed at enhancing AR tech for industrial use.
The news of Rokid's funding indicates a strengthening competitor in the AR space, which could potentially challenge Apple's market position with its Vision Pro. While Apple's brand and market presence are strong, increased competition could impact investor sentiment and Apple's future market share in the AR sector.
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