Qidi closed RMB 100 million yuan angel financing, with Joy Capital as lead investor and Matrix Partners China and Meridian Capital as co-investors


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

Founded in December 2021, Qidi is a scientifically and technologically innovative company that takes 24/7 smart glasses as its core and aims to cater to customers with its unique vertical integration model. Starting from the complete integration of underlying technologies such as hardware, software and algorithms, and with state-of-the-art products and up-to-date solutions, Qidi is focused on creating revolutionary hands-free smart glasses, which guarantee a hassle-free worldwide travel for users.

New technical turning point calling for product revolution

With the massive popularity of the “metaverse” and the development of AR technology, smart glasses are once again in the spotlight. Unlike Google Glass which appeared transiently a decade ago, or the latest wave of AR entrepreneurship mania, Qidi believes that a landmark revolution that could transform glasses from a mere “assistive device” into a “intelligent machine” has reached a tipping point.

In recent years, digital industries, such as 5G, artificial intelligence and big data, have seen rapid development on core technologies. The display, interaction, algorithm and computing power of smart glasses have also changed a lot from when the product first appeared.

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

In addition, the whole industry also 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. At present, smart glasses have entered the market of some industries, but there are still gaps in weight, battery life and wearing comfort between existing products and the standard and positioning of the next generation of human-computer interaction. center; therefore, in the field of product application, especially in the consumer market, there has been no real sense of hot-selling products that have ever occurred, and a new “product revolution ” is simply unavoidable.

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

An ideal pair of smart glasses suitable for long-time wear often faces many challenges, such as weight, wearing comfort, battery life, and heat dissipation, while waiting , as an everyday wear item, eyewear should be both high-tech and fashionable, raising the bar for bespoke product design, quality and uniqueness. From the point of view of the working principle, the smart glasses are made up of different units, such as the acquisition unit, the calculation unit and the display unit, which delicately operate a series of key technologies on the optics, display techniques, interaction, algorithm and operating system. . If we simply adopt the key logic of “smart glasses” and the development model of integrating supply chain technology, and the all-in-one smart function mix, it will easily transform “smart glasses” into “a clumsy helmet”.

The founder of Qidi emphasizes that the key is to understand the basic logic of glasses and explore the irreplaceable role of glasses in our lives. “The most distinctive feature of smart glasses is that they can perceive the environment and recognize everything from the first point of view, and provide instant feedback in front of users’ eyes, while at the same time, the hands-free service qu they offer can dramatically increase efficiency.” The guiding principle of Qidi’s product development is to inject “intelligence” into the glasses – that is, with the daily needs of users being met, the smart glasses are equipped with intelligence, which aims the three basic properties that most concern users, which are – flexibility, popularity and fashion. In addition, the smart glasses have undergone extensive innovation in weight, battery life and wearing comfort, and diopter adjustment is also available, which can really allow users to travel without problem all over the world.

But how to make such an impeccable product? Qidi has developed a vertical integration model, which consists of perfectly matching high-level designs that are suitable for the endpoints of the terminal with the basic operating system, training system and algorithm, and maximize the energy efficiency of the stage circuit module, and fundamentally solve the technological problems.

This requires the team to have the ability to develop new-grade hardware, complete system construction, and independently innovate core technologies, which is exactly the strength of Qidi’s founding team. Qidi’s key members come from China leading technology companies, such as Huawei and DJI, which have rich pioneering experiences in related industries. Besides being a well-experienced and well-integrated team, it should also be noted that the founder has successfully launched flagship products with a sales volume of more than ten million, and has a deep understanding and a bias of user needs. , product development and technological innovation.

“We have focused on making flagship phones from the beginning, so the pursuit of high quality, elegant design and extreme user experience has become the gene of our team,” says Qidi founder , “It has been more than ten years since we have dealt with smart glasses. Based on our deep understanding of the core technologies, we believe that the tipping point of relevant technologies is imminent. We hope to take on the role of China technological innovator to explore a new definition of smart glasses and create the perfect product that users want, and ultimately take it as a lever to advance a truly smart society.”

Investor reviews

Liu Erhai, Founder and Managing Partner of Joy Capital, said, “As the next-generation computing platform after personal computers and mobile phones, smart glasses are a promising product, but a bit technically difficult to manufacture. Qidi team has worked in related fields for a long time, and mastered advanced technology and rich experience. I believe their products will form an inseparable link in the metaverse ecosystem, and deliver unprecedented and magical experiences to all users.

Wang Bingxing, Director of Matrix Partners China, said: “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 making a breakthrough. At present, wearable AR devices, such as smart glasses, are most likely to become the next-generation computing platform and interaction input, and all future entertainment, education, work and travel can be made through these terminals. Accumulated years of technical skills and R&D experiences in leading technology companies and gained in-depth knowledge of consumer electronics products. They also have large-scale production experience and quality control ability. We are very optimistic about their future development and look forward to seeing the innovative products produced by them.”

Ji WeiFounder and Managing Partner of Meridian Capital, said, “As a next-generation computer terminal intended to replace mobile phones, the AR glasses terminal and upstream technology are maturing rapidly. It’s a good time to invest, and choosing Qidi is like getting a head start on the right race track. We are very optimistic that the Qidi team will become an important enabler, if not a definer, on this long and bumpy track in the near future.

Liu Tianjie, Chief Investment Officer of Meridian Capital, said, “We are deeply impressed by the Qidi team’s outstanding industry experience, R&D capabilities and execution power. The team’s huge success and experience in developing many mobile phone flagships is what AR device manufacturers can rely on and establishes an important foundation to explore hot-selling smart devices. new generation. powerful engine for the transformation of IT platforms.”

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

SOURCE Qidi Technology (Shanghai) Co., Ltd.

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