NOLO CV1, the world’s first mobile VR interaction device, is dedicated to creating the future of ‘personal VR devices’. NOLO VR, a technology company focused on mobile VR interaction, has recently announced the completion of a $10 million Series A funding round, led by BlueRun Ventures and followed by Lianhua Capital. Previously, NOLO VR had received Pre-A and angel rounds of financing from Lianhua Capital and Galileo Capital.
Founded in 2015, NOLO VR’s core team consists of masters and doctors graduated from prestigious institutions such as the Chinese Academy of Sciences, Tsinghua University, Beijing University of Posts and Telecommunications, and Communication University of China, as well as industry experts from well-known companies like IBM, Samsung, Huawei, LeEco, Perfect World, and Storm Technology. The NOLO team has pioneered the PolarTraq, a completely independent intellectual property rights hybrid spatial positioning core technology that is the only one on the market today capable of meeting the requirements of ‘single base station, one-to-many, low cost, low power consumption, high precision, high refresh rate, high robustness, and large range’ for 3D spatial positioning. Based on the PolarTraq spatial positioning technology, NOLO’s R&D team has developed the world’s first mobile VR interaction device, NOLO CV1. This VR hardware product is aimed at the mass consumer market, with NOLO CV1 aiming to provide everyone in the world with a fully immersive VR experience that can only be obtained on mainframe VRs like HTC Vive, Oculus Rift, and Sony PSVR, using just their own smartphones, anytime and anywhere. NOLO CV1 not only has the portability and ease of use that mainframe VRs cannot match, but its price is also only about 15% of the full set of mainframe VR prices. Cao Wei, Executive Director of BlueRun Ventures, stated that the global mobile VR market based on mobile phones has a very large market space. In the mobile VR ecosystem, the interaction interface is a key pain point that restricts users from experiencing the core joy of VR. The NOLO VR team has solved the pain points in mobile VR interaction through original underlying technology and spatial positioning algorithms, and has enabled users to use VR peripherals as conveniently as Bluetooth headphones. Due to NOLO’s strong portability, ease of use, and high cost-performance ratio, its emergence makes the application and popularization of ‘personal VR devices’ possible, which is conducive to accelerating the commercialization process of VR in the C-end market. In addition, the team also has global strategic planning and execution capabilities in technology, product, supply chain management, market operations, and sales channels.
