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| MAD Gaze raises US$18M to ramp up product R&D and 5G applications |
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Further to raising US$12 million of pre-Series A funding last year, Cyberport incubatee MAD Gaze recently expanded its war chest by a new Series A round of US$18 million led by DNS Capital and Black30 Venture. The funds will enable MAD Gaze to bolster product development, tech R&D, and market expansion brought along by 5G development.
Investors were drawn to the company’s proprietary core AR technologies, unique value propositions, and market potential. MAD Gaze is one of the few AR companies that excel in multiple optical technologies and algorithms. The company was also the first AR company on the Mainland to run an integrated business - it develops hardware and software, maintains a global developer community, operates an online “MAD Store”, and offers a multitude of industry solutions.
With a number of fashionable AR smart glasses and a newly launched smart watch in its portfolio, over 3,000 developers in its developer community, and customers across more than 40 countries and regions, MAD Gaze enjoys a broad client base in both consumer and enterprise segments. Its AR solutions are being deployed in such diverse settings as banking and finance, logistics, security, retail, and healthcare; and its products are being enjoyed by consumers for 3D movie viewing, gaming, navigation, work, and more. The broad applicability of solutions has also attracted the likes of Nespresso, Cathay Pacific, Microsoft, LV, OPPO, SAP, among many other big brands, to collaborate with MAD Gaze to create novel brand experiences.
MAD Gaze is primed to take on the explosive growth of AR/VR in the age of 5G. At CES Las Vegas in January, MAD Gaze launched its new wearable which can be used in conjunction with its MR smart glasses to open up an even broader spectrum of applications and immersive experiences in the everything-connected, mixed-reality age.
Jordan Cheng, Founder & CEO of MAD Gaze, said, “We will continue to strengthen our core technologies to ensure that we are well positioned to take on the 5G trend. We are grateful to Cyberport for supporting us throughout our growth journey and for helping to put us where we are today.”
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