News
Pimax Completes $15M Series A Funding Round
By Scott Hayden - Dec 21, 2017
Pimax, the Shanghai-based VR headset manufacturer known for their upcoming wide field of view headset Pimax ‘8K’, have raised nearly $15 million in their first post-Kickstarter investment round.
According to China-based tech publication YiVian, Pimax announced on December 19th that it had closed a near ￥100 million RMB round of Series A funding co-led by China-based firms O-Film and Tianma Bearing Group Co (TMB).
Back when the company’s Kickstarter campaign hit the $2.45 million mark, or just over that of Oculus’ Kickstarter, it was clear Pimax had passed an important litmus test regarding public interest of high-FOV, higher resolution VR headsets.
Garnering from its backers over $4.2 million USD by the campaign’s conclusion, and becoming the most well-funded VR project on Kickstarter, Pimax’s trajectory looks more promising than ever thanks to its first private investment.
To keep things in context: after Oculus’ successful Kickstarter, it gave the company momentum to raise a $16 million Series A in 2013 and a $75 million Series B later that year, which was then followed by their $2 billion Facebook buyout in 2014. Needless to say, we’ll be watching with bated breath as Pimax moves forward.
Pimax’s ‘5K’ and ‘8K’ VR headsets are still slated to release to early backers starting in January 2018, although it’s unclear if the company will make hardware revisions now that it has some fresh funding underfoot. We’ll have our eye on Pimax as it heads into the new year.
