The virtual reality (VR) industry doesn’t stand still for long as it was only in May 2020 that Pico Interactive launched its standalone headsets, the Pico Neo 2 and Neo 2 Eye. This week, the company has announced the completion of a Series B+ funding round as well as confirming an updated model is coming in 2021, the Pico Neo 3.
The funding round saw Pico Interactive raise $37.4 million USD, with Co-Stone Asset Management Co., Ltd., Shenzhen Yidun Media Investment Fund, Jianyin International Capital Management (Tianjin) Co., Ltd., and CCBI Tech Venture (Suzhou) Combined Debt & Equity Private Equity Fund LLP all taking part. The funding will be used to support Pico Interactive’s B2C presence in Asia, its expansion into Western markets and product development.
“Pico is looking to provide its users with the best VR experience possible through excellent hardware, a great content ecosystem and numerous strategic partners,” said Zhou Hongwei, CEO of Pico Interactive in a statement. “This funding round will not only help us strengthen the accumulation of key technologies but also introduce high-quality VR games and applications onto our consumer Pico headsets in Asian markets. In addition to the B2C growth in Asia, the funding helps us to continue furthering our presence as a leader in B2B VR solutions in the West. We’re continuously looking for ways to better support our partners and this latest financing will help give us the tools we need to make these visions a reality.”
As for the new Pico Neo 3, the company has yet to reveal any specifications regarding how it’ll be upgrading the current models. The Neo 2 and Neo 2 Eye both feature a 4K resolution, a Qualcomm Snapdragon 845 processor, six degrees of freedom tracking (6DoF), two front-facing cameras, a 75Hz refresh rate, 128GB of storage, and a counterbalanced design to aid comfort. The Neo 2 Eye also comes fitted with Tobii’s eye tracking technology for a range of enterprise use cases.
It wasn’t just the Pico Neo 2 and Neo 2 Eye that the hardware maker launched in 2020. While companies like Facebook have abandoned 3DoF technology in favour of 6DoF, Pico is still supporting it through the G2 4K S and G2 4K Enterprise headsets. These have 4K resolution, 101° field of view, and an all-PU facial interface for easy cleaning. Plus the G2 4K Enterprise model also comes with a 16 MP single RGB camera and more storage.
When further details regarding the Pico Neo 3 are made available, VRFocus will let you know.