NOLO VR Completes $10M Series A Financing

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NOLO VR Completes $10M Series A Financing
May 25, 2018
Image courtesy Nolo VR

 

Nolo VR, the China-based company behind the 6DOF mobile tracking system Nolo CV1, today announced they have successfully completed a $10 million Series A financing round. The Series A was led by the Menlo Park-based BlueRun Ventures, and included Nigeria-based Lotus Capital. Previously, Nolo VR had secured financing from Lotus Capital and Galileo Capital.

 

With the funding, Nolo VR says they will “continue to optimize the software, hardware, and content platforms,” and will also soon release their own 6DOF mobile VR app platform, dubbed Nolo Home.

 

Nolo CV1, which launched in July 2017 for $200 after a successful Kickstarter, includes an optical sensor base station, two optically-tracked controllers featuring touchpad-input, and a similarly-tracked marker intended to attach to the top of the headset, giving otherwise 3DOF headsets a measure of 6DOF tracking. The system also allows you to play SteamVR games, provided you download a software called RiftCat for mobile headsets such as Samsung Gear VR or Google Cardboard.

 

Global VR/AR hardware vendors that either support, or use Nolo CV1 for 6DOF tracking include devices from Deepoon, PiMax, Pico, Nibiru, AntVR and Carl Zeiss. AntVR’s inside-out tracking for its Mix AR headset is provided by Nolo CV1.

 

Daoning Zhang, founder & CEO of Nolo VR, says that more than 10,000 users worldwide have purchased a Nolo CV1, with the core users located in North America, Europe, Japan, South Korea and China.

“As smartphones are revolutionizing PCs, mobile VR is definitely the future trend.” Zhang says. “After this round of financing, NOLO VR will focus on global VR developers, such as SteamVR and PSVR developers, to build a complete mobile VR content ecosystem. At the same time, we will focus on the R&D of NOLO software and hardware products, and optimize global production and sales system, and [additionally] help the VR consumer market to grow faster and further.”

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