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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.

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