×
You will be redirected back to your article in seconds

Comcast and China’s Tencent Back Meta Augmented Reality Venture

Comcast Ventures, Chinese social media giant Tencent and a group of leading Chinese investors have committed $50 million to U.S. augmented reality firm Meta.

Other investors include computer firm Lenovo, Banyan Capital, GQY, and Horizons Ventures, the investment arm of Li Ka-shing, Hong Kong’s richest man.

Unlike virtual reality, in augmented reality, artificial images overlay images, not replace real images. Meta is known for a “natural machine” that uses neuroscience to create an intuitive experience that may transform how users work, play and communicate.

Meta was founded in 2012 and the new cash injection represents a series B funding round that will be used to finance development of its hardware and software technology base, business expansion, including app development. Specific among these are its next headset, which is no longer tethered to a PC. It previously raised $23 million, with Horizon leading the series A funding round last year.

“Meta is different from the other players in AR… our advanced optical engines along with our neuroscience-based interface design approach are what will create a computing experience that is 100x easier to use and more powerful than traditional form factors,” said Meron Gribetz, CEO of Meta.

More Biz

  • A+E Networks' Sean Cohan Joins Wheelhouse

    A+E Networks' Sean Cohan Joins Wheelhouse Entertainment as President

    Comcast Ventures, Chinese social media giant Tencent and a group of leading Chinese investors have committed $50 million to U.S. augmented reality firm Meta. Other investors include computer firm Lenovo, Banyan Capital, GQY, and Horizons Ventures, the investment arm of Li Ka-shing, Hong Kong’s richest man. Unlike virtual reality, in augmented reality, artificial images overlay […]

  • Saoirse Ronan Kristen Wiig

    Variety, PBS SoCal Announce Lineup for Ninth Season of ‘Variety Studio: Actors on Actors’

    Comcast Ventures, Chinese social media giant Tencent and a group of leading Chinese investors have committed $50 million to U.S. augmented reality firm Meta. Other investors include computer firm Lenovo, Banyan Capital, GQY, and Horizons Ventures, the investment arm of Li Ka-shing, Hong Kong’s richest man. Unlike virtual reality, in augmented reality, artificial images overlay […]

  • Brooklyn Johnny Partners With RCA Records

    Brooklyn Johnny Partners With RCA Records for New Label, District 18

    Comcast Ventures, Chinese social media giant Tencent and a group of leading Chinese investors have committed $50 million to U.S. augmented reality firm Meta. Other investors include computer firm Lenovo, Banyan Capital, GQY, and Horizons Ventures, the investment arm of Li Ka-shing, Hong Kong’s richest man. Unlike virtual reality, in augmented reality, artificial images overlay […]

  • Comcast Sets Cleo TV, Afro as

    Comcast Sets TV One's Cleo TV, Afro as Latest Independent Channel Launches

    Comcast Ventures, Chinese social media giant Tencent and a group of leading Chinese investors have committed $50 million to U.S. augmented reality firm Meta. Other investors include computer firm Lenovo, Banyan Capital, GQY, and Horizons Ventures, the investment arm of Li Ka-shing, Hong Kong’s richest man. Unlike virtual reality, in augmented reality, artificial images overlay […]

  • "On Air" at the Talksport Radio

    It’s Long Past Time for Big Radio to Pay Artists, Producers and Labels (Guest Column)

    Comcast Ventures, Chinese social media giant Tencent and a group of leading Chinese investors have committed $50 million to U.S. augmented reality firm Meta. Other investors include computer firm Lenovo, Banyan Capital, GQY, and Horizons Ventures, the investment arm of Li Ka-shing, Hong Kong’s richest man. Unlike virtual reality, in augmented reality, artificial images overlay […]

  • --FILE--Wang Jianlin, Chairman of Dalian Wanda

    Legendary Denies Report Saudi Fund Mulling $700 Million Investment

    Comcast Ventures, Chinese social media giant Tencent and a group of leading Chinese investors have committed $50 million to U.S. augmented reality firm Meta. Other investors include computer firm Lenovo, Banyan Capital, GQY, and Horizons Ventures, the investment arm of Li Ka-shing, Hong Kong’s richest man. Unlike virtual reality, in augmented reality, artificial images overlay […]

  • Brillstein Entertainment Partners Recruits Manager Kailey

    Brillstein Entertainment Partners Recruits Manager Kailey Marsh, Acquires BloodList Franchise

    Comcast Ventures, Chinese social media giant Tencent and a group of leading Chinese investors have committed $50 million to U.S. augmented reality firm Meta. Other investors include computer firm Lenovo, Banyan Capital, GQY, and Horizons Ventures, the investment arm of Li Ka-shing, Hong Kong’s richest man. Unlike virtual reality, in augmented reality, artificial images overlay […]

More From Our Brands

Access exclusive content