The Chinese mega investor throws in an apparent vote of confidence behind this Israeli AR tech firm. But what does it mean for Alibaba’s plans in augmented reality?
Israeli financial daily Calcalist reported this morning that Israeli augmented reality lens maker Lumus has received $6 million from Chinese internet powerhouse Alibaba, marking yet another investment by the company in both AR and the Israeli tech market.
This announcement comes nearly a month after Rehovot-based Lumus’s release that they had pulled a $30 million Series C round in December from HTC and Quanta Computer, an electronics manufacturer from Taiwan. Including the $15 million that was listed as their Series B financing back in June, Lumus came out proudly, stating that they had brought in $45 million in funding for 2016.