VR (virtual reality) head-mounted display provider DeePoon has landed US$30 million in series B funding led by Xunlei Ltd and Kaiying Network Technology Co Ltd. The latest round brings its parent company Le Xiang Technology’s valuation to approximately RMB800 million (US$123 million).
DeePoon was established in April 2015, following a seed investment of several dozen million RMB from Hollysh. In October, the company received a series A investment from Double Safe Guard.
DeePoon VR develops head-mounted devices as well as VR content. DeePoon’s technology is supported on both PC and mobile platforms. Its VR content distribution platform 3Dbobo has accumulated more than 1.5 million users, according to the company.
Xunlei is a video service and solution provider that was re-listed for a US IPO in May 2014. Xunlei believes its current users are the ideal potential customers for upcoming VR content in the Chinese market.
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By leveraging Xunlei’s desktop download tool Xingyu CDN (Content Development Network), Xunlei, Kaiying and DeePoon will collaborate on the product, the user base, cloud services, platform construction and game development.
Kaiying has strengths in Internet-based game development. It has researched and developed many games including FC Miracle. Kaiying has committed to injecting significant capital into VR game content development with this round of funding.
DeePoon VR and Kaiying are now also collaborating on upcoming projects, including FC Miracle.
China’s head-mounted VR device market features plenty of competitors, including LeVR, Ling VR, 3Glasses, AntVR kit and Baofeng magic mirror.
The article VR Company DeePoon Pockets Series B Led By Xunlei and Kaiying first appeared on TechNode.
Image Credit: DëePoon VR