AsianFin – New Vision Information Technology, a Suzhou-based AI-driven digital service platform specializing in the metaverse and intelligent solutions, has completed a new round of financing, raising several million dollars. The investment was exclusively made by PeakView Capital.
The funds will be used for accelerating the company’s growth in key areas such as technological research and development, market expansion, and international operations.
Founded in 2014, New Vision, also known as 818XR, has focused on providing comprehensive digital solutions to enterprises. By integrating cutting-edge technologies such as artificial intelligence (AI) and extended reality (XR), New Vision offers customized digital services aimed at streamlining workflows, creating 3D content, and deploying AI-powered agents in various business sectors.
The market for AI and XR-driven solutions in the enterprise sector is growing rapidly. China's VR/AR hardware shipments are expected to rise dramatically from four million units in 2020 to nearly 60 million units by 2025, with AR devices expected to grow at a compound annual growth rate of over 103%. The VR/AR consumer market alone is projected to exceed 29.6 billion yuan (US$4.14 billion) by 2025, as predicted by EO Intelligence.
As the AI landscape continues to evolve, New Vision is positioned to benefit from the growing demand for AI models, particularly in fields such as digital government, finance, retail, real estate, and smart manufacturing. The company has established partnerships with major industry players such as Baidu, Meituan, and Ctrip, further solidifying its market presence.
Leng Yu, the CEO of New Vision, said that the company's success lies in its strong technological capabilities, standardized products, and effective market channels, which have enabled rapid expansion and high customer retention.
Looking ahead, Leng is optimistic about the potential for AI and XR to revolutionize industries, with plans to use the new funding to drive further innovation.
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