For three consecutive years, its revenue has doubled. VR headset enterprise "Pimax" has completed a C1+ round of financing of hundreds of millions of yuan. | Exclusive coverage by 36Kr.

Written by Wang Fangyu

Edited by Su Jianxun

36Kr has learned that Pimax Technology (Hangzhou) Co., Ltd. (hereinafter referred to as "Pimax Technology"), a VR headset R & D and manufacturing company, has recently completed a C1 + round of financing of hundreds of millions of yuan. This round of financing is led by Zhuji Jingkai Chuangrong Investment, and the old shareholder Ivy Capital follows the investment. This financing is also one of the largest financings in the domestic VR headset field since 2024.

Pimax Technology was founded in 2015, focusing on the R & D and manufacturing of high-end VR headsets. Since its establishment, through long-term R & D investment, the company has established technical reserves in core areas such as screens, lenses, and computing power optimization, and has become one of the first manufacturers in the market to launch 4K, 8K, and retina-level VR headsets.

It is reported that Pimax Technology's business has covered multiple fields such as game entertainment, professional design, large-space cultural tourism, education and training, and VR real estate, and has achieved a nearly doubling growth in revenue for three consecutive years. Currently, the company's overseas users account for as high as 80%, and its products have been recognized by the international market.

"This is mainly due to the company's continuous R & D and innovation capabilities, a complete product matrix layout, and a mature overseas market strategy, as well as the general trend that the global high-end VR market has entered a stable and rapid growth track," said Weng Zhibin, the founder of Pimax Technology, to 36Kr.

VR Headset of Pimax Technology        Image Source: Authorized by the Enterprise

In terms of technical accumulation, after long-term R & D and innovation, Pimax Technology has independently developed core technologies such as high refresh rate display technology and innovative optical solutions, and has obtained hundreds of domestic and foreign patents.

Specifically at the product level, in 2024, Pimax Technology released three innovative products, namely Pimax Crystal Light, Pimax Crystal Super, and Pimax Dream Air, which have achieved improvements in hardware performance, user experience, and diverse scene adaptation.

Among them, Pimax Crystal Light, as the lightweight version of the Crystal series, further optimizes the wearing comfort while maintaining high resolution and wide field of view, making it suitable for a wider user group. Pimax Crystal Super, as the world's first retina-level VR headset, has captured many heavy VR players and professional users in the industry. Pimax Dream Air combines lightness, thinness, and high performance with the world's lightest, thinnest, and smallest 8K full-featured VR design.

Currently, the global XR industry is deeply integrating into various application scenarios, and the market demand is also becoming increasingly rigid. In this context, Pimax Technology continues to focus on hardware R & D, continuously launching innovative products, and continuously upgrading key performance indicators such as clarity, field of view, and refresh rate to create an ultimate virtual reality experience for users.

After the completion of this round of financing, Pimax will further expand its R & D team in the United States and at the same time establish a new R & D platform in Europe to continuously enhance its global technological innovation capabilities.

Weng Zhibin said that this round of financing will provide strong financial support for the rapid development of Pimax. The company will continue to increase its R & D investment in the next-generation XR technology, actively expand application scenarios, and accelerate the global layout.

Views of Investment Institutions:

Mr. Fu Lei, a partner of 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 definition and ultimate experience. It has established a solid brand recognition among professional user groups with rigid demands for display effects and immersion, and has become a global leader in this niche. It is worth noting that in professional scenarios with extremely high requirements for visual experience such as flight simulation and racing simulation, VR headsets are gradually replacing traditional display screens with their excellent immersion and spatial perception capabilities, becoming the preferred solution for the new generation of display terminals. This trend further validates the development potential of the high-end VR market."