Putting AR hardware into its pockets, this company wants to pry into the industrial AR market with lightweight products

After the concept of “Meta Universe” became popular, AR company Raowell discovered that some of the businesses they had done in the past could also be regarded as Meta Universe, only focusing on the industrial field.

“Starting from this year, the industry has started to discuss whether it is possible to connect some of the business priorities in the past to make everyone better understand what we are doing?” Li Bo, co-founder and CEO of Riowell, is happy to see the upsurge of Meta Universe. After all, the popularity of AR may be realized earlier on the B-side. And he defined “Industrial Metaverse” as an industrial ecology in which new information and communication technologies represented by XR and digital twins are deeply integrated with the real industrial economy. Through XR, AI, IoT, cloud computing, blockchain, digital twins and other technologies, digital technology and real industry can be combined.

Riowell was established in 2018 and its main product is the industrial XR intelligent hardware platform. CEO Li Bo is a Ph.D. from the Department of Electronic and Computer Engineering at Carnegie Mellon University and was the Chief Strategy Officer of 3M Greater China. At present, the company’s customers are mostly Fortune 500 companies.

Recently, Riowell released a new brand of moziware and a lightweight industrial AR headset Cimo. Li Bo said that although the customers they serve are B-end companies, they still have to design products from the perspective of personal use in order to implement actual needs. Therefore, this head-mounted computer is only palm-sized, weighs 155g, and supports folding, smart dual-camera, voice control and fingerprint recognition technology.

In addition to hardware research and development, Realwell uses the self-developed emma enterprise cloud service platform in software to help companies manage equipment applications, improve business efficiency, and meet business needs for visibility and control. This is also the consistent business idea of ​​domestic industrial AR companies-serving customers through the integration of software and hardware.

But like most industrial-grade AR product companies, Li Bo believes that they are not eager to get involved in C-side hardware. “There will be a certain accumulation of products on the B-side, but entering the C-side is still a matter of rigorous demonstration.”

In fact, this year, although consumer AR companies have also received capital attention, the industry consensus is that the first burst of AR is on the enterprise side. According to data released by the IT industry research organization CCID, the market size of my country’s VR/AR industry will reach 41.35 billion yuan in 2020, an increase of 46% year-on-year. It is estimated that the market size of my country’s VR/AR industry will exceed 100 billion yuan in 2023.

However, Li Bo believes that the real explosive point of the AR market has not yet arrived. In his view, the industry is still in the early stage of defining the market and has not entered the stage of real technological competition. “What we are doing now is to let more people use this product, and even reduce costs.”

With the release of new products, Riowell also began to expand the application scenarios of its products, expanding to general industry, light industry, retail service industry, medical and other fields. In November, Riowell completed a total of 120 million yuan of A round of financing. Investors include Qianjinben and Jiahe Smart.

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