uSens, Inc., a Silicon Valley pioneer providing full 3D interactive solutions for virtual reality and augmented reality, announced today that it completed a $5.5 million round of pre-Series A financing co-led by IDG Ventures, Lebox Capital and Maison Capital in June. Also participating were Stone Capital, Fulcrum Capital, ChuanCheng Fund and Chalor Capital.
“Being able to attract such world-class investors is the ultimate seal of approval that we are in the right place at the right time with the right solution,” said Anli He, CEO of uSens. “This funding gives us the financial strength to support the explosive growth we anticipate over the coming months. It has also given us the solid foundation from which we have started raising uSens’ series A funding round.”
uSens has been leveraging the funds to aggressively expand R&D in computer vision, 3D interactive solutions and business development in the United States and China along with further product development.
“In our due diligence for this round of funding, we found in uSens a team of world-class engineers bringing stunning VR technology to the market. We felt they were head and shoulders above the rest of the field,” said Young (Yihong) Guo, senior partner at IDG Capital. “uSens is clearly poised to capitalize on what has become a massive move to create deeper and more meaningful ways to see and experience things that can’t be physically present and to project layers of virtual data onto real world environments.”
uSens recently announced two major breakthroughs in virtual reality technology, making its Impression Pi product the first mobile virtual reality (VR) headset to enable 3D gesture control and to combine virtual and augmented reality (AR), a new reality dubbed by uSens as “Super Reality.” The industry has grappled with a myriad of challenges such as with gesture control and with combining AR and VR technologies. uSens provides a solution that not only solves these problems, but is light, portable and allows users to embrace a truly immersive “Super Reality.”
The company was co-founded in 2013 by the husband and wife team of Anli He, CEO, and Dr. Yue Fei, CTO, the inventor of “Super Reality,” and serial entrepreneur/physicist Dr. Chris Shi. The founders and team are pioneers in virtual reality. In May this year, uSens raised more than $300,000 from its Kickstarter crowdfunding campaign, surpassing its original goal by more than 300%.
“We believe the potential for uSens’ pioneering mobile VR/AR technology is unlimited,” said Nick (Ning) Yang, founding partner at Lebox Capital. “Their technology opens up a whole new world of potential target markets not possible with current virtual reality products — such as virtual training and education, healthcare/ medical, entertainment and creating new emotional connections through shared virtual experiences.”