$13.6M for Pimax: The VR headset manufacturer raises new funds
Pimax raised $13 million in a funding round to advance XR development on a global scale.
VR headset developer Xiaopai Technology, better known under the Pimax brand, has received a new injection of millions of dollars. According to technology portal 36Kr, the company has raised the equivalent of about $13.6 million in a funding round.
The round of investors was led by Zhuji Jingkai Capital Investment, with the participation of existing investor Ivy Capital. It is one of the largest financing rounds for a Chinese VR headset manufacturer since 2023.
Pimax has an impressive growth track record: The company says it has nearly doubled its revenue in each of the past three years. International business is becoming increasingly important. Up to 80 percent of Pimax users now come from markets outside of China.
Technology know-how as a success factor
Pimax founder Weng Zhibin attributes the company's success to a number of factors. Firstly, the company's continuous investment in research and development has built a strong technology base in areas such as displays, lenses, and computing power.
Pimax was one of the pioneers of VR headsets with 4K, 8K and Retina resolution. In-house innovations such as high refresh rate display technology and special optical solutions have resulted in a large number of patents.
On the other hand, Pimax is benefiting from the overall positive market development, according to Weng. The global high-end VR market is entering a period of stable and rapid growth.
Pimax will now use the fresh capital to expand its development activities. An expansion of the R&D team in the US and a new development platform in Europe are planned. The goal is to further increase innovation on a global scale. The funds will also be used to further develop XR technology, new applications and global sales.
Pimax Unveils Ultra-Slim 8K Headset
Just in time for the end of the year, Pimax also announced a new high-end headset, Dream Air. The slim and lightweight PC VR headset features 27 million pixels of resolution, head, hand and eye tracking, surround sound and a DisplayPort connection.
Despite its compact design, the Dream Air uses high-quality components such as micro OLED panels and pancake lenses, which are also used in the top-of-the-line Crystal Super model.
Highlights include integrated eye tracking with automatic pupil distance adjustment, base station-free inside-out tracking, ring-free controller and hand tracking, a weight of less than 500 grams, and the ability to use accessories such as corrective lenses. The Dream Air will be available starting at $1,895 and is expected to be available in May 2025.
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