Alibaba leads $60m funding round for smart glasses maker Nreal

Chinese tech group has invested at least $1bn in AR and VR startups in recent years

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Nreal says its latest fundraising will be earmarked for boosting research and development and accelerating its global expansion. © Nreal

CISSY ZHOU, Nikkei staff writer

Hong Kong -- Chinese smart glasses startup Nreal says it has raised $60 million in series C+ fundraising led by Alibaba, bringing its total raised over the past year to $200 million.

The Beijing-based company, founded in 2017, had previously raised funds from video platforms Kuaishou and iQiyi, as well as a string of private equity funds including Jack Ma's Yunfeng Capital, Sequoia China, Hillhouse, NIO Capital, Aplus, CICC Capital, CPE, Shunwei Capital and China Growth Capital.

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