Dream Bloom received 400 million yuan in Series C financing

According to news on January 17, recently, Beijing Dream Blossom Technology Co., Ltd. has officially changed its name to “Qingdao Dream Bloom Technology Co., Ltd.”, the company’s headquarters is located in Qingdao West Coast New District, and announced that it has obtained 400 million yuan in the C round of financing . Joint investment by the Group and Zhenzhi Capital.

According to the data, Qingdao Dream Blossom Technology Co., Ltd. was established in December 2016. It is a technology company incubated by iQIYI and operated independently, focusing on the research and development of extended reality (XR) technology, products and content.

According to reports, in terms of users, Qiyu equipment has an average daily use time of 85 minutes, a weekly active day of 6 days, and a monthly operating rate of 91%. Vision Technology) Top-notch 6DoF VR interactive technology – light tracking, the world’s first binocular full-color see-through consumer-grade MR equipment and many other industry firsts; relying on iQiyi, Qiyu has achieved leadership in VR exclusive viewing.

On December 26, 2022, Qiyu officially released its first consumer-grade MR product——Qiyu MIX. As a consumer-grade MR equipped with a binocular vision color perspective solution, it achieves a more natural and comfortable color perspective effect, and can derive a higher-quality mixed reality experience based on MR technology.

Shi Guilong, deputy director of Qingdao West Coast New District Management Committee, said: In recent years, China’s virtual reality industry has accelerated development, and the highlights of virtual reality products have gradually attracted the attention of the society. Dream Blossom is in the leading position of domestic VR all-in-one machines in terms of hardware, software and content. We believe that through the joint efforts of all parties, taking advantage of the industrial cluster advantages of the West Coast New Area, we can further enhance the development of the virtual reality industry in the West Coast New Area, promote the integration and innovation of VR technology, and create a new situation of cooperation and win-win development.

Yu Xiangjin, vice president of Qingdao Economic Control Group, said: It is a great honor to participate in the C round of financing of Dream Blossom. The virtual reality industry is in a stage of rapid development, and the overall promotion of virtual reality technology applications is being accelerated. We are very optimistic about the Dream Blooming team and look forward to further exploring innovative applications of virtual reality with potential commercial value and promoting high-level and high-quality application scenarios. Help the company to build a respectable all-in-one consumer brand in the field of virtual reality.

Ma Ning, senior partner of Zhenzhi Capital, said: Virtual reality is not just a direction, but a revolution. Zhenzhi Capital has always been very optimistic about the virtual reality industry track. Since 2016, the virtual reality industry has experienced a period of prosperity and accumulation. Now it has entered the “opportunity period” of high-paced and high-speed development, and will even usher in the “explosion period” soon “. This time, we value the advanced hardware products, VR/ AR technology , high-end talent team, diversified application content resources, and years of steady experience and foundation owned by Dream Blossom. We look forward to Dream Bloom’s capital empowerment to achieve leapfrog development.

Xiong Wen, CEO of Dream Blossom, said: “The main engine for the development of the global XR industry is innovation. During the entire cycle of XR deployment, Qiyu has been able to build its own full-stack technical capabilities and barriers from underlying algorithms to application interaction. In the next few years, Qiyu will continue to create differentiated value for users around the three directions of product, business model, and ecological strategy. On the one hand, it will continue to explore technology. Specifically, by 2023, Qiyu’s entire line of products will support MR functions, and will launch it in the first half of this year. An industry-leading product; on the other hand, the differentiation of Qiyu will also be projected on the content and ecological strategy. In this new product, we launched the strategy of “three-year lying play” to give more content rights to To users, it dispels users’ worries and entanglements in frequent content consumption, and also subverts the inherent business model of the industry; in addition, we will continue to maintain an open mind and cooperate with upstream and downstream partners to jointly build a healthy and complete XR ecosystem.”

Xiong Wen introduced: “At present, more than 50% of the solutions for the global XR industry are implemented in Qingdao, and the industrial foundation is extremely deep. Qingdao has gathered more than 100 industry companies, and the scale of the virtual reality industry has exceeded 5 billion yuan; It is a virtual reality research institution, accounting for 70% of the country’s virtual reality scientific research force, and has been approved as the country’s first virtual reality high-tech industrialization base. In the future, we will join hands with Qingdao West Coast New District to continue to invest in research and development, and promote the new district and the entire XR industry high-quality development.” (Yi Cheng)