VR head-mounted display provider DeePoon has landed $30 million USD in series B funding led by Xunlei Ltd. and Kaiying Network Technology Co. Ltd. The latest round brings Le Xiang Technology’s valuation to approximately 800 million RMB.

DeePoon was established in April 2015, followed a seed investment of several dozen million RMB from  Hollysh. In October, the company received an series A investment from Double Safe Guard.

DeePoon VR develops head mounted devices as well as VR content. DeePoon’s technology is supported on both PC and mobile platforms. Its VR content distribution platform 3Dbobo has accumulated more than 1.5 million users, according to the company.

Xunlei  is a video service and solution provider that re-listed for a US IPO in May 2014. Xunlei believes their current users are the ideal potential customers for upcoming VR content in the Chinese market.

By leveraging Xunlei’s destktop download tool Xingyu CDN (Content Development Network),  Xunlei, Kaiying and DeePoon will collaborate on the product, the user base, cloud services, platform construction and game development.

Kaiying has strengths in internet based game development. They researched and developed many games including FC Miracle. Kaiying has committed to injecting significant capital into VR game content development with this round of funding. DeePoon VR and Kaiying are now in collaborating on upcoming projects, including FC Miracle.

China’s head-mounted VR device market features plenty of competitors, including LeVR, Ling VR, 3Glasses, AntVR kit, and Baofeng magic mirror.

Image Credit: DëePoon VR

Eva Yoo is Shanghai-based tech writer. Reach her at evayoo@technode.com

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