Alibaba and Huayan Capital Lead VR Game Company Glo for $3 Million Seed Round Financing

Glo announced today that it has secured $3 million (about 19.8 million yuan) in seed funding from Alibaba, CRCM Ventures, Presence Capital, Mindworks and some unknown angel investors. The investment will be used to accelerate the development of its dedicated VR system, Glostation, which is also being licensed by IMAX to access its VR entertainment center.

The VR industry has many vertical areas:

On the one hand, with Oculus Rift, HTC Vive, and PSVR, which have a large number of games and entertainment applications, you can get a consumer-level perspective.

On the other hand, it is an enterprise-level perspective on education, hospitals, and other businesses. In addition to these two aspects, there are location-based entertainment centers, VR amusement centers, and other site-based technology examples.

Glo is involved in several different fields. For example, we reviewed one of its first games, Unearthed Inc., last year, but the VR project is much larger.

The first IMAX VR experience using Glostation technology will be the Deadwood Mansion, a zombie-themed game that is expected to enter the IMAX Center in Los Angeles before landing in New York and other locations.

“The Glostation is an interactive, social, and stimulating virtual reality experience that allows it to seamlessly integrate into IMAX's location-based VR center.” Rob Liszt, IMAX's Chief Business Development Officer (Rob) Lister) in a prepared statement called "Deadwood Mansion" VR experience provided by consumers for our Los Angeles Center, and we also look forward to working with Glo to bring Glostation to other IMAX VR centers in the world" Said in this way.

The installation of Glostation's VR Amusement Center will be the preferred location for "storage-grade" VR games along with other location-based venues such as The Void.

“At the end of June, we opened a showroom in Hong Kong, and in the next 100 days, our tickets are sold out every day.” Glo CEO Steve Zhao in a prepared statement Says, “The weekend ticket has been booked for 2018 months in advance. Now with this new investment, we will be able to bring our proprietary free-roaming VR system Glostation to major cities around the world. We are very happy to cooperate with IMAX. Let us develop the experience of landing its world-class VR center."

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