The Chinese startup behind AI glasses brand NIMO has raised several hundred million yuan in angel funding, bringing its valuation to RMB 1.5 billion, according to an October 8 report. Investors include Gobi Partners, alongside other Chinese venture capital firms.
The company develops smart glasses for everyday use and has established offline sales channels. It plans to use the proceeds to develop new products and core technologies, expand its domestic retail network and enter overseas markets, as more Chinese hardware startups compete in AI eyewear. [The Capital, in Chinese]