China-based enterprise and industrial augmented reality technology provider Rokid raises $160M. Rokid competitors include VIRNECT, Holo-Light, Augmentir, Ario Technologies, AerinX, and Atheer.

The funding will help Rokid expand globally and invest in R&D. Here are the top-line bullets you need to know.

Rokid, an augmented reality (AR) smart glasses startup, has raised $160M in Series C funding.

Rokid is a designer and manufacturer of AR glasses with 5G compatibility for industry and exhibition applications.
Equipped with AI algorithms and AR technology, the glasses help field workers — across industries such as oil & gas, electric power, aviation, and rail transport — communicate with experts, keep track of processes, and reference internal databases.
The company’s AI and AR products are in use in over 70 countries and regions globally.
Some of Rokid’s partners include Caterpillar, Audi, Agora, and Volkswagen.
The startup is supported by a team of around 380 employees and has offices in Redwood City, Chengdu, and Hangzhou.

Source: Rokid

The global augmented reality (AR) market is projected to reach a value of $88.4B by 2026, growing at a CAGR of 31.5%, according to Markets and Markets.
Surging consumer demand for AR devices combined with the growing number of AR applications across industries, such as healthcare, automobiles, retail, and e-commerce, is fueling the market’s growth.
The need for “touchless” technology amid the Covid-19 pandemic, especially in industries like retail and e-commerce, has also contributed to market growth.