In recent years, the news of ‘artificial intelligence’ has been on an overall upward trend. AR, as an integral part of artificial intelligence, is not just a fantasy of imagination but a tool, partner, and mentor that can truly enter our lives first. It has the potential to bring revolutionary changes to traditional industries and people’s daily lives across various fields. The technological charm and the effect of the trend have made it irresistible for countless venture capital firms.
1. Xiaolong Technology Secures Tens of Millions in Pre-B Round Financing Recently, Beijing Xiaolong Technology Co., Ltd. (hereinafter referred to as ‘Xiaolong Technology’) announced that the company had completed tens of millions in Pre-B round financing at the end of September 2017, with Gobi Venture Capital as the investor. Prior to this, Xiaolong Technology had achieved the remarkable feat of completing three rounds of financing within a year after its establishment in May 2015, quickly moving into the fast lane of the AR industry.
Companies such as Tuniu Travel Network (Nasdaq: TOUR), Camera360, CIB (acquired by Asiasoft), and Yun Zhi Hui are among those that Gobi Ventures has been closely monitoring in the AR industry for many years, with systematic investments in AR starting from 2016. Gobi Ventures is optimistic about Xiaolong Technology’s comprehensive AR technology industry chain, which includes hardware equipment, software development, and market channels. They believe that the AR industry will give birth to a platform as significant as the iPhone, bringing unprecedented changes to people’s work environments and daily habits. Xiaolong Technology’s one-stop AR solution, combining cloud and terminal, is propelling this change. Additionally, in the AR field, Gobi Ventures considers AR optics to be the core technology that will drive the next big platform, and Xiaolong Technology has already established strategic cooperation with the world’s leading optical technology manufacturers to produce more impressive AR products in the future. Looking back at Xiaolong Technology’s strategic trajectory, the company’s strong competitiveness today is inseparable from its continuous exploration of AR technology and persistent efforts in product implementation and industry chain construction. At the beginning of the company’s establishment, the founder Shi Xiaogang graduated from the Department of Electronic Science and Technology at Beijing Institute of Technology in 2013 and joined Huawei Technologies Co. , Ltd., Beijing Research Institute after graduation. During his time developing smartphone hardware, he was exposed to AR technology and became deeply fascinated by it. He was convinced that in the near ‘tomorrow’, AR products would integrate into daily life and completely replace and disrupt smartphones. In 2015, he resigned and founded Xiaolong Technology, determined to create AR products that belong to China, allowing Chinese people to experience the life-changing impact of technology before the rest of the world and to feel the shock of the AR era ahead of time! Over the two years since the establishment of the company, the team has grown from a few individuals to include outstanding talents from hardware and internet companies such as Huawei, Lenovo, and Baidu, all of whom are industry elites engaged in the development of hardware and software, optical technology, supply chain, and market marketing, with a current staff of about 60 people. The core team has been dedicated to researching AR optical core technology and integrated software and hardware solutions. They have successively completed the development and mass production of several AR products, including XLOONG sports AR smart glasses, Techens T2 binocular AR smart glasses, and AR single-soldier helmets. During this period, the company has obtained 11 core AR patents and has successively received multiple rounds of financing from listed groups such as BOE and Luxshare Precision. It has been awarded as a national high-tech enterprise, won the first prize in the third Beijing Yizhuang Innovation and Entrepreneurship Competition, the silver award in the Capital Youth Innovation and Entrepreneurship Competition, the most investment-worthy cultural and creative enterprise in Beijing, the outstanding enterprise in the 2017 ‘Maker China’ Innovation and Entrepreneurship Competition Beijing Selection, and the 2017 second ‘T100 New Technology • New Product Innovation Action’ outstanding enterprise award.
Beijing Xiaolong Technology Co., Ltd., while garnering numerous accolades, has seen its founder and CEO, Shi Xiaogang, adorned with elite titles such as ‘Post-90s CEO,’ ‘Hurun Rich List Future Star,’ the youngest ‘Zhongguancun High-Gathering Project’ entrepreneurial leader, ‘Zhongguancun Entrepreneurial Star,’ and ‘Beijing Municipal Committee Member of the Communist Youth League.’ Shi Xiaogang has consistently focused on accumulating competitive advantages from a technical standpoint and expanding AR industry vertical application solutions around Techlens T2 AR Smart Glasses.
Techlens T2 AR Smart Glasses, independently developed by Xiaolong Technology, incorporate advanced technologies such as binocular display technology, micro-display technology, and composite human-computer interaction. It features various human-computer interaction methods, including TOF gesture interaction, voice interaction, and head posture. With characteristics of ‘hands-free operation’ and ‘information near-eye display,’ the Android & open interface enables strong functional expandability, allowing for customized development in line with internet, AR technology, and industry demands. It can be widely applied in various fields such as tourism, real estate, industry, medical, and military police. It addresses long-standing pain points and chronic issues of traditional enterprises, helping them to prepare for artificial intelligence, and is referred to by some cooperative clients as a ‘symbolic product of the artificial intelligence era.’ In October 2017, Xiaolong Technology began shipping Techens T2 AR Smart Glasses with custom application modules to early contracted cooperative clients, marking Xiaolong Technology as the first enterprise in the domestic enterprise-level AR smart glasses field to ship in bulk! Its rich solutions seamlessly meet enterprise demands, with overall technology at an internationally leading level, injecting unlimited vitality into the win-win development of client enterprises and Xiaolong Technology. Xiaolong Technology believes that ‘with the advancement of artificial intelligence, market demand has opened up, including international industry giants like Microsoft and Apple entering the AR industry, and the market will soon form a broad consensus on AR+ applications.’ Regarding this investment from Gobi Venture Capital, funds will mainly be used to increase R&D investment in core technologies such as optics, to complete the layout of the industry chain upstream and downstream, to accelerate the development of Techlens T3 products, and to deeply develop industry solutions. Continuously exploring enterprise user needs and accelerating the promotion of industry applications. In the future, Xiaolong Technology’s focus will shift towards the B-end market, with the Beijing company serving as the core technology, market, and operation center, and the Xi’an subsidiary as the R&D center for hardware and software, radiating AR hardware products and industry solutions nationwide, ultimately extending to the C-end market, and continuously promoting the entry of AR technology products into our lives.Xloong Technology, established in May 2015, is a national high-tech enterprise dedicated to providing AR smart hardware and comprehensive solutions for both enterprises and consumers. The company possesses multiple AR core technologies and patents, and has successfully developed consumer-grade sports AR smart glasses, enterprise-grade Techlens T2 binocular AR smart glasses, and military-grade AR single-soldier helmets.
Xloong has received nearly 100 million yuan in financing from listed groups such as China Poly, BOE Group, and Luxshare Precision, as well as from Beijing Institute of Technology, the government, and Gobi Ventures, making it a leader in the domestic AR field. The company has been honored with titles such as National High-Tech Enterprise, Zhongguancun High-Gathering Project, ‘Eagle Talent’, ‘Sea Eagle Talent’, first prize in the 3rd Beijing Yizhuang Innovation and Entrepreneurship Competition, the Most Investment-Worthy Cultural and Creative Enterprise in Beijing, an outstanding enterprise in the 2017 ‘Maker China Innovation and Entrepreneurship Competition Beijing Selection’, and the 2017 second ‘T100 New Technology • New Product Innovation Action’ outstanding enterprise award. Gobi Ventures, founded in 2002, is a leading venture capital institution in China and the first VC institution to enter the Southeast Asian region. Gobi Ventures currently manages 9 funds (including USD funds, RMB funds, Southeast Asian funds, and Hong Kong funds) with a total scale of about 4.5 billion yuan, and has invested in over 200 innovative enterprises in China and Southeast Asia. Representative projects include: Tuniu Travel Network (Nasdaq: TOUR), Camera360, CIB (acquired by Asiasoft), Cloud Wisdom, CSDN. net, DeClout (Singapore Exchange: 5UZ), DMG (acquired by Hua Shi Media, Nasdaq: VISN), Eko Communication, Yidong Media (acquired by BlueFocus, Shenzhen Stock Exchange: 300058), MainSpring, Hanbo Technology (acquired by Harbin Institute of Technology High-Tech, Shanghai Stock Exchange: 600701), GoGoVan (merged with 58 Express), Quark Finance, Youpin PICOOC, Zhuyun, Car Disposal Treasure, Teambition, live. me, etc. After 15 years of deep cultivation in China, Gobi Ventures continues to disrupt itself, adheres to differentiated investment philosophy as a creed, and is always committed to creating effective resource connections for entrepreneurs. Relying on a strong resource network of strategic partners including Unilever, Alibaba, Bosch, and Sony, Gobi Ventures provides entrepreneurs with an excellent communication platform, allowing them to get closer to the world’s leading enterprises and investment companies.
