Pimax has secured USD $30 million C1 Funding: Report

Developer and manufacturer of innovative virtual reality products, Pimax has successfully completed its C1 round of financing with a Beijing-based investment firm run by veteran investment professionals, with close to USD 30 million. The firm has allocated the funds for growth and shipping enhancements.

The firm said this investment round would solidify its financial situation as they are rolling out its new portfolio of virtual reality devices, including the Pimax Portal, the 12K headset, and the Pimax Crystal later in 2023.

As per the reports, the fund allocated will be mainly used in three areas. Firstly, improving the demand for its new lines of products, Pimax Portal and Pimax Crystal.

Another area in which the company is growing their investments is in their R&D areas that reflect Pimax’s core competitiveness. At last, to enhance its business operations with an aim better to serve its global users, both consumers and enterprises, the firm is smoothening its functionalities.

Kickstarter, in 2017, offered a field of view of about 200 degrees to the Pimax 8K with the wide casing lens. By comparison, the Valve Index delivers around the PlayStation VR2, whose field of view is 110 degrees.

Pimax wants to grow further

The firm now has offices in Hong Kong, Shanghai, Hangzhou, Qingdao, Chengdu, San Jose, and Stockholm, even though the firm has its own production facilities in China.

The company founder Robin Weng said the organization is working hard to make the development and delivery process more stable and mature with an aim to serve our consumers better.

He further added the new round of investment would likely help us a lot in achieving the organization’s goal.

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