Qidi has closed a RMB 100 million angel financing round with Joy Capital as the lead investor and Matrix Partners China and Meridian Capital as co-investors

SHANGHAI, September 16, 2022 /PRNewswire/ — To September 13, 2022, Qidi technology (shanghai) Co.,Ltd. (hereinafter referred to as “Qidi”) announced the closing of an angel funding round 100 million yuan ($14.44 million), with Joy Capital as lead investor, Matrix Partners China and Meridian Capital as co-investors, and Winsoul Capital as financial advisor.

Established in December 2021, Qidi is a scientifically and technologically innovative company that takes 24/7 smart glasses as its core and aims to serve the customers with its unique vertical integration pattern. Starting from the full-link integration of underlying technologies such as hardware, software and algorithms, and with innovative products and up-to-date solutions, Qidi focuses on the development of revolutionary hands-free smart glasses that ensure trouble-free travel worldwide for the users.

New technical turning point that requires a product revolution

With the massive popularity of “Metaverse” and the development of AR technology, smart glasses have once again come under the spotlight. Unlike Google Glass, which temporarily popped up a decade ago, or the latest round of the AR entrepreneurial craze, Qidi believes an epoch-making revolution that could transform glasses from a mere “functional device” into an “intelligent machine” is a game changer has reached.

In recent years, digital industries such as 5G, artificial intelligence and big data have seen rapid development of fundamental technologies. The appearance, interaction, algorithm and computing power of smart glasses have also changed significantly compared to the era in which the product first appeared.

One might expect that human-computer interaction in Web 3.0 will be multidimensional. As with common digital products such as PCs, mobile phones and tablets, the real world is separated from the digital world by the screen. However, the smart AR glasses can break the barrier and is set to revolutionize the way we receive information and our way of life, and inspire a limitless imagination. “This is probably the most imaginative and innovative product for individual users in all of human history and will revolutionize the way we interact with the digital world.” Says the founder of Qidi.

In addition, the entire industry sees smart glasses as a promising product and expects them to be widely used in the next generation of human-computer interaction centers and mobile terminals. Smart glasses have currently gained market access in some industries, but there are still gaps between the existing products and the standard and positioning of the next generation of human-computer interaction centers in terms of weight, battery life and wearing comfort; Therefore, in the field of product application, especially in the consumer market, there has never been a real sense of hot-sale products, and a new “product revolution” is simply inevitable.

An optimal solution from Qidi: “Clever” glasses & vertical integration pattern

An ideal smart glasses suitable for long-term wear often faces many challenges, such as weight, comfort, battery life and heat dissipation, while the glasses as an everyday item meanwhile should be both high-tech and fashionable, which sets the bar for design, quality and tailor-made uniqueness of the product. From the point of view of the functional principle, the data glasses consist of various units such as the detection unit, processing unit and display unit, which sensitively use a number of key technologies in terms of optics, display techniques, interaction, algorithm and operating system. If we only adopt the key logic of “smart glasses” and the development model of supply chain technology integration, and mix intelligent functions into one, the “smart glasses” easily becomes a “chunky helmet”.

The founder of Qidi emphasizes that the core is to find out the basic logic of glasses and to explore the irreplaceable role of glasses in our lives. “The most striking feature of smart glasses is that they can perceive the environment and see everything from the first perspective and provide instant feedback in front of users’ eyes, while still providing the hands-free service that can greatly increase efficiency.” The Qidi’s product development guiding principle is to bring “intelligence” to the glasses – that is, with the satisfaction of users’ daily needs, the smart glasses will be equipped with intelligence, which will target the three basic characteristics that interest users most, these are – flexibility, popularity and fashion.Also, the smart glasses have undergone profound innovation in terms of weight, battery life and wearing comfort, and diopter adjustment is also available, which can bring users a really hassle-free travel worldwide.

But how do you make such an impeccable product? Qidi has developed a vertical integration pattern that perfectly matches the top-level designs that match the terminal ends with the basic operating system, drive system and algorithm, and maximizes the energy efficiency of the scene switching module and fundamentally solves the technological problems.

This requires the team to be able to develop new category hardware, complete system construction and independently innovate core technologies, which is exactly the strength of Qidi’s founding team. The main members in Qidi hail from of China leading technology companies such as Huawei and DJI, which have extensive pioneering experience in related industries. Besides the fact that it is an experienced and well-integrated team, it is also worth mentioning that the founder has successfully launched flagship products with a sales volume of over ten million and has a deep understanding and pre-assessment of user needs , product development and technological innovation.

“We’ve been focusing on making flagship phones all along, so striving for high quality, elegant design and extreme user experience has become our team’s gene,” says the founder of Qidi. “It’s been more than ten years since we got involved with Smart Glasses. Based on our deep understanding of the core technologies, we believe that the turning point of the relevant technologies is just around the corner. We hope to take on the role of of China Technology innovator to explore a new definition of smart glasses and craft the perfect product that users want and ultimately use it as a lever to drive a truly intelligent society.

Investors’ Views

Liu Erhai, Founder and Managing Partner of Joy Capital, says: “As the next-generation computing platform after PCs and mobile phones, smart glasses are a promising product but technically a bit difficult to manufacture. Qidi team has been working in this regard for a long time, mastering advanced technology and rich experience. I believe their products will form an inseparable link in the Metaverse ecosystem and provide unprecedented and magical experiences for all users.”

Wang Bingxing, director of Matrix Partners China, says, “At present, global economies are facing more and more risks and uncertainties, but we still believe that breakthrough technologies, innovative ideas and new trends are the key to breakthrough at the moment, wearable AR is becoming.” -Devices such as smart glasses most likely to the next generation of computing platforms and interaction inputs, and all future entertainment, education, work and travel opportunities can be realized through these terminals They have accumulated years of technical skills and R&D experiences in leading technology companies and themselves provides a deep insight into consumer electronics products. They also have extensive production experience and quality control. We are very optimistic about their future development and look forward to seeing the innovative products they produce.”

JiWeiFounder and Managing Partner of Meridian Capital, says: “As the next-generation computer terminal set to replace cell phones, the AR glasses terminal and upstream technology are evolving rapidly. Now is the right time to invest, and choosing Qidi is like stepping onto the right track. We are very optimistic that the Qidi team will become a key facilitator or even a definer on this long and bumpy road in the near future.”

Liu Tianjie, Investment Director of Meridian Capital, said: “We are deeply impressed by the excellent industry background, R&D capabilities and execution strength of the Qidi team. The great success and experience of the team in the development of many flagship mobile phone products is what makes the AR device manufacturers can draw on it and provides an important basis for exploring the hot-selling next-generation smart devices. We hope to that the funding will help Qidi accelerate its strides in technological exploration and create the backdrops for manufacturing consumer AR products, and be a powerful driving force in computing platform transformation.”

Media Inquiries: Mia Lu+86-15021452275, [email protected]

SOURCE Qidi Technology (shanghai) Co.,Ltd.

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