Chinese startup Little Pine Technology (Pimax), founed in 2014 by Weng Zhibin, after having announced last April a crowdfunding campaign to finance the development of its first high definition VR headset (the Pimax “π” 4K VR), raised tens of millions of “Pre-A series” round of financing by Ivy Capital Partners.
Ivy Capital bets on Pimax’s headset
Ivy Capital is a Chinese private equity and venture capital firm specialised in “early stage” and “growth” investments, which typically invests 50 million yuans (about 7,7 million dollars) per portfolio company.
This round of financing funds will mainly used by Pimax to improve the strength of the team itself, the development of new products and accessories, and improve the user experience of VR tools like the headset “π”, actually the highest resolution viewer in the world of which Pimax is going to produce some branded editions for its clients, beside the consumer edition, whose production started July 19 in Jingdong plant.
Pimax VR 4K beats Oculus Rift and Htc Vive
For comparison, headsets like Oculus Rift and Htc Vive have a 2560 x 2400 pixels combined resolution, i.e. something between 2K and 4K, while the Pimax “π” 4K VR has a 3840 x 2160 pixels resolution. Chinese viewer weighs 220 grams, has a field opening of 110 degrees is equipped with two gyroscopes and has a latency of 18 milliseconds.
To the participants in the crowdfunding campaign headset’s price was of 1.699 yuan (about 230 euros). According to Pimax’s founder and Ceo, Weng Zhibin, the startup was able to develop such a high quality headset capitalising the tecnological experiences of its staff in the development of VR tools for hospital use and in the healthcare industry, “where the standards are higher than those of the Big Three” (Oculus Rift, Htc and Sony).
For the Big Three scenario is getting complicated
It’s easy to predict that should Pimax find adequate financial and industrial supports the competitive scenario for the “Big Three” (but even for Samsung) could quickly get complicated and profit margins could fall, even before VR market really took off. If you wanna know how it will end,
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