Pimax Technology, a leading innovator in the field of high-end VR headsets, has completed a C1+ round of funding, raising approximately 2 billion yen.
The round, led by leading industry investors and supported by additional investment from existing shareholder Ivy Capital , marks one of the largest rounds in China's VR industry in 2024 and reflects the growing capital market interest in high-performance VR hardware, particularly its innovation and performance.
Pimax Technology, founded in 2015 , is an innovative company that develops and manufactures high-end VR headsets. Since its founding, Pimax has released a series of innovative products, leading the industry in key VR performance aspects, particularly in terms of resolution, field of view, and refresh rate . As a result, Pimax has established a solid leadership position in the global high-performance VR headset market.
In terms of sales , Pimax Technology has experienced phenomenal growth, nearly doubling its sales over the past three years . This growth is supported by the company's relentless investment in research and development, extensive product lineup, and strong overseas market strategy. Furthermore, Pimax's growth is also driven by the major trend of stable and rapid growth in the global high-performance VR market.
Currently, overseas users of Pimax Technology account for 80% of the total , and its products are highly regarded in the international market.
Robin Weng, founder of Pimax Technology, said, "We are sincerely grateful for the continued recognition and support from investment institutions. Currently, the XR industry has deeply penetrated various application scenarios, and market demand is further strengthening. In this environment, Pimax Technology will continue to focus on the high-end VR hardware field, and through technological innovation, we will not only provide users with the ultimate virtual reality experience , but also create tangible business value for our enterprise customers. We will continue to move forward toward our vision of 'realizing human life in multi-dimensional space-time' ."
According to Robin Weng, Pimax Technology currently operates in a variety of fields, including game entertainment, professional design, large-scale tourism and culture, education and training, and VR real estate , and is expected to continue growing in the coming years. This latest round of funding will be an important source of capital to support the company's rapid growth, and is expected to further strengthen investment in research and development of next-generation XR technology , contributing to the expansion of applications and accelerating global expansion.
In terms of technology, Pimax Technology boasts core technologies such as its proprietary high refresh rate display technology and innovative optical solutions, and holds hundreds of patents both domestically and internationally . With this funding, Pimax plans to further expand its R&D team in the US and establish a new R&D center in Europe , further strengthening its technological innovation capabilities on a global scale.
On the product side, Pimax Technology launched three innovative products in 2024: Pimax Crystal Light , Pimax Crystal Super , and Pimax Dream Air .
In particular, Pimax Crystal Light is a lightweight version of the Crystal series that maintains high resolution and a wide viewing angle while optimizing the fit, making it suitable for a wider range of users.
As the world's first retina-level VR headset , Pimax Crystal Super 's innovative display technology and powerful hardware have made it the first choice of enthusiasts and industry experts.
Pimax Dream Air features the world's lightest, thinnest, and smallest 8K full-featured VR design, offering unprecedented portability and an outstanding virtual reality experience. These new products have made significant advances in hardware performance, user experience, and adaptability to a variety of scenarios, further strengthening Pimax technology's competitive advantage in the high-performance VR market.
While global VR manufacturers generally release new products every two to three years, Pimax's product update pace puts significant pressure on its competitors. Robin Weng attributes Pimax's ability to update products so efficiently to its unique advantages, gained through years of building a technology platform , continuous investment in supply chain optimization , and deep integration with China's hardware industry chain .
Melvin Fu, partner at Ivy Capital, said, "Pimax Technology has established a unique competitive advantage in the high-end VR headset market . Its products are known for their ultra-high resolution and ultimate VR experience, and it has built a strong brand among heavy users who are particular about display effects and immersion. It has already become a global leader in this field. In particular, in use cases where the visual experience is extremely important, such as flight simulation and racing simulation, the company's VR headsets' outstanding immersion and spatial awareness capabilities have made them the solution of choice for replacing traditional displays and becoming the next-generation display device. This trend further supports the growth potential of the high-end VR market."
