Pimax, the innovative Chinese VR company renowned for its cutting-edge wide field-of-view (FOV) PC VR headsets, has recently secured an additional ¥CN100 million (approximately $13.6 million USD) in an extension of its Series C funding. This financial boost is set to propel the company’s global expansion and technological advancements.
With this latest funding, Pimax plans to strengthen its research and development (R&D) efforts by expanding its US-based team and establishing a new R&D hub in Europe. According to a report by 36Kr, the majority of Pimax’s customer base—around 80% of its headset sales—is located outside of China, highlighting the company’s strong international presence.
“This success stems from our relentless focus on R&D, a diverse product portfolio, and a well-established overseas market strategy,” said Robin Weng, founder of Pimax, in an interview with 36Kr. “It also reflects the global high-end VR market’s steady and rapid growth trajectory.”
Since its inception in 2015, Pimax has carved a niche for itself with its wide-FOV PC VR headsets, including the highly acclaimed ‘Crystal’ series. The company is also making waves in the lightweight VR headset market with its latest offering, the Dream Air. Announced in December, this sleek, feature-packed PC VR headset is designed to cater to the growing demand for portable and user-friendly VR solutions.
Priced at $1,900, the Dream Air is slated for release in May 2025. Alongside the headset, Pimax has introduced an optional compute unit named ‘cobb,’ powered by the Snapdragon XR2 Gen 2 chipset, enabling standalone VR capabilities. This innovative add-on is expected to enhance the user experience by offering greater flexibility and performance.
Despite its impressive funding milestones and consistent delivery of high-quality products, pimax faces several challenges as it continues to grow. In november, the company unveiled a new payment model aimed at making its VR headsets more accessible. Customers can now purchase headsets at a reduced upfront cost and enjoy a 14-day risk-free trial of either the Crystal Light or the upcoming Crystal Super models.After the trial period, users must make an additional payment to retain access to the headset’s essential software.
Initially, the trial period was set at 10 days, but Pimax extended it to 14 days following feedback from the community and to comply with consumer protection regulations in the EU and UK.this adjustment underscores the company’s commitment to customer satisfaction and regulatory compliance.
The frist shipments of the Dream Air, featuring the QLED 57 PPD optical engine, are expected to begin at the end of January. Additional optical engines are scheduled for release in March and April, as confirmed by the company in a recent Q&A session.
As for the standalone compute unit,cobb,Pimax has yet to announce a specific release date. The company stated,“We have no exact ETA for Cobb,as we are still working on adding features that were not initially communicated in our frontier declaration.” Given Pimax’s history of innovation, it’s likely that more updates will emerge before the product hits the market.
pimax’s journey is a testament to the transformative potential of VR technology. With its aspiring plans, groundbreaking products, and customer-centric approach, the company is poised to remain a key player in the global VR industry.
How does teh Dream Air headset contribute to PimaxS future?
Interview with Dr. Emily Carter, VR Industry Analyst and Futurist
By Archyde News
Archyde: Thank you for joining us today, Dr.Carter. Pimax, the Chinese VR company, has recently secured an additional ¥CN100 million ($13.6 million USD) in Series C funding. As a leading analyst in the VR industry,what are your thoughts on this progress?
Dr. Carter: thank you for having me. This is a important milestone for Pimax and the broader VR industry. The additional funding underscores the growing confidence in Pimax’s ability to innovate and expand it’s global footprint. Their focus on wide field-of-view (FOV) PC VR headsets has already set them apart, and this financial boost will likely accelerate their R&D efforts and market penetration.
Archyde: pimax plans to use this funding to expand its US-based team and establish a new R&D hub in Europe. What does this mean for the company’s global strategy?
Dr. Carter: This move is strategic and well-timed. By expanding its US team and establishing a European R&D hub, Pimax is positioning itself closer to its primary customer base.According to reports, around 80% of Pimax’s headset sales are outside of China, so this expansion aligns with their international market strategy. It also allows them to tap into diverse talent pools and leverage regional expertise, which is crucial for innovation in the competitive VR space.
Archyde: Pimax’s founder, Robin Weng, attributes the company’s success to its relentless focus on R&D, diverse product portfolio, and overseas market strategy. Do you agree with this assessment?
Dr.Carter: Absolutely. Pimax has consistently demonstrated a commitment to pushing the boundaries of VR technology. Their wide-FOV headsets, like the ‘Crystal’ series, have been well-received by enthusiasts and professionals alike. Additionally, their diverse product portfolio, including the recently announced Dream Air, shows their ability to cater to different segments of the market. Their overseas strategy has also been a key driver of growth, as thay’ve successfully tapped into the high-end VR market outside of China.
Archyde: Speaking of the Dream Air, Pimax’s latest lightweight VR headset, how do you see this product shaping the company’s future?
Dr. Carter: The Dream Air is a game-changer. Lightweight, feature-packed PC VR headsets are in high demand, especially as VR applications expand beyond gaming into areas like education, healthcare, and enterprise training. By addressing the need for comfort and portability without compromising on performance, Pimax is positioning itself as a leader in this emerging segment. The Dream Air could very well become a flagship product that drives their next phase of growth.
Archyde: what does Pimax’s success tell us about the broader VR market?
Dr. Carter: pimax’s success is a testament to the global VR market’s steady and rapid growth. The demand for high-end VR solutions is increasing, driven by advancements in technology and expanding use cases. Companies like Pimax, with their focus on innovation and global outreach, are well-positioned to capitalize on this trend. I believe we’re just scratching the surface of what’s possible in the VR space, and Pimax’s journey is one to watch closely.
Archyde: Thank you, Dr. Carter, for your insights. It’s clear that Pimax is a company to keep an eye on as the VR industry continues to evolve.
Dr. Carter: Thank you. It’s an exciting time for VR, and I look forward to seeing how Pimax and othre innovators shape the future of this transformative technology.
End of Interview
Published by Archyde News on January 14, 2025.
