Chinese startup Rokid has gone through several stages of transformation in its eight-year history and recently raised new funding to move forward. The Temasek-backed company started out as a smart speaker maker when Vertical was popular in China in mid-2015, but has been focusing more on augmented reality in recent years.
Rokid revealed this week that it has secured a $110 million Series C round. Between the last $100 million cash injection in 2018 and this recent round, we haven’t heard much from Rokid – at least from the consumer side.
While new players such as Qualcomm-backed Neriel have emerged to woo early adopters with stylish and lightweight eyewear, it looks like Rokid has started to explore business use cases such as enabling telecommuting for workers in the automotive sector. , oil and gas and other traditional industries. And since many hardware startups rushed to offer contactless solutions when the COVID-19 pandemic hit, Rokid used smart glasses that can detect the temperature of up to 200 people in two minutes.
With a team of approximately 380 employees, Rokid said it will be spending new revenue on research and development as well as global expansion, so mature markets should expect more from Rokid’s B2B offerings. In fact, the company is on lease Energy Industry Veteran Leading Sales in Asia Pacific.
The company declined to name the investors in this round, saying only that they are “connected players in the ecosystem,” which could mean customers and supply chain partners. He declined to disclose his post-monetary valuation.