February 25, 2021 - NIO Capital has led a $20 million Series B round of funding for VR interactive technology company NOLO VR.
The funds will be used for NOLO VR's next-generation interactive technology research and development, new product mass production, and content ecology construction.
Ian Zhu, the managing partner of NIO Capital, said, "NOLO is deeply cooperating with operators, including the underlying technology to content operation, and the ecosystem has been gradually built up in the past few years."
"NOLO has its own patented technology and its products have been widely used in various VR formats. Training, sales, experience, and marketing in the automotive industry can be organically combined with NOLO's VR products. We are very optimistic about NOLO's development," Zhu said.
NOLO VR was founded in Beijing in 2015 and has more than 200 patents across 12 countries.
NOLO VR is the only mobile VR hardware brand in the world other than Oculus that owns one of the most core key technologies of VR - 6DoF interaction technology.