NetDragon Completes US$20M Investment in Rokid, Forms Strategic Partnership to target Metaverse opportunities

Rhea-AI Summary

NetDragon Websoft Holdings Limited (Hong Kong Stock Code: 777) has completed a strategic investment of US$20 million in Rokid Corporation Ltd and signed a 5-year strategic partnership agreement to pursue metaverse opportunities globally with Rokid's state-of-the-art Augmented Reality (AR) technologies. This investment and partnership aim to accelerate the creation of next-generation interactive user experiences that will form the backbone of tomorrow's metaverse. Dr. Simon Leung, NetDragon Group Vice Chairman and Executive Director, believes AR will be one of the core technologies to enable the metaverse in the years to come, broadening the number and variety of use cases, especially in education and gaming. Mr. Misa Zhu, the Founder and CEO of Rokid, is happy to have NetDragon onboard as a close strategic partner, aiming to leverage their knowledge and know-how in education and gaming, as well as their global sales network.

Positive

• Strategic investment and partnership with Rokid position NetDragon to capitalize on the growing AR industry and metaverse opportunities
• Leveraging Rokid's AR technologies and NetDragon's expertise in education and gaming can lead to breakthrough innovations and product development

Negative

• None.

HONG KONG, Nov. 20, 2023 /PRNewswire/ -- NetDragon Websoft Holdings Limited ("NetDragon" or "the Company", Hong Kong Stock Code: 777), a global leader in building internet communities, has completed a strategic investment of US$20 million as the lead investor in the latest equity fundraising round of Rokid Corporation Ltd ("Rokid"), and in parallel with the investment, the two companies have signed a 5-year strategic partnership agreement to pursue metaverse opportunities globally with Rokid's state-of-the-art Augmented Reality (AR) technologies.

As a global leader in building internet communities, NetDragon specializes in scaling multiple internet and mobile platforms in both gaming and education sectors. The Company's achievements in the education field, recognized globally, make it an expert in leveraging technology to improve learning experiences. Similarly, as a world-renowned leading company in AR technologies, Rokid is in a unique position to offer comprehensive technology solutions that include hardware, software, and operating systems. This investment and partnership will accelerate the creation of next-generation interactive user experiences that will form the backbone of tomorrow's metaverse. Rokid is currently backed by renowned investors and industry players including IDG, Walden, Fosun, Haitong, Temesak, etc.

Dr. Simon Leung, NetDragon Group Vice Chairman and Executive Director said, "We are excited with our investment in Rokid as we believe AR will be one of the core technologies to enable the metaverse in the years to come. We see AR becoming a key channel for users to interact in the metaverse, and will significantly broaden the number and variety of uses cases, especially in education and gaming. Our partnership with Rokid will open up opportunities for us to design products with a new level of user experience with the application of AR technologies, and at the same time accelerate our go-to-market for our AR-enabled product offerings." 

Mr. Misa Zhu, the Founder and CEO of Rokid, said: "We are happy to have NetDragon onboard as not just our investor but also our close strategic partner going forward. As a leading unicorn in the rapidly growing AR industry, Rokid is a product-oriented platform company focusing on human-computer interaction technology with a strong track record in multiple industrial and consumer applications. We look forward to working with NetDragon to expand our opportunities by leveraging their knowledge and know-how in education and gaming, as well as their global sales network. We believe that the combination of NetDragon and Rokid will bring new momentum in product development and breakthrough innovation to the industry."

About NetDragon Websoft Holdings Limited

NetDragon Websoft Holdings Limited (HKSE: 0777) is a global leader in building internet communities with a long track record of developing and scaling multiple internet and mobile platforms that impact hundreds of millions of users, including previous establishments of China's first online gaming portal, 17173.com, and China's most influential smartphone app store platform, 91 Wireless.  

Established in 1999, NetDragon is one of the most reputable and well-known online game developers in China with a history of successful game titles including Eudemons Online, Heroes Evolved, Conquer Online and Under Oath. In recent years, NetDragon has also started to scale its online education business on the back of management's vision to create the largest global online learning community, and to bring best-in-class integrated blended learning solutions to every school around the world.  

About Rokid

Rokid, a product platform company founded in 2014, focuses on human-computer interaction technology. Currently, Rokid is working on the research and development of hardware and software products such as AR glasses and the YodaOS operating system.

Through the research of speech recognition, natural language processing, optical display, semiconductor platform, and hardware design, Rokid has developed a range of augmented reality (AR) solutions for consumer and business customers, including Rokid Max AR glasses and Rokid Station. To date, the company's products have been sold and used in over 80 countries and regions worldwide.  Company website:https://global.rokid.com/.

For investor enquiries, please contact:

Maggie Zhou
Senior Director of Investor Relations
Email: maggiezhou@nd.com.cn / ir@netdragon.com
Website: ir.netdragon.com  

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SOURCE NetDragon Websoft Holdings Limited

FAQ

What is the strategic investment completed by NetDragon Websoft Holdings Limited?

NetDragon completed a strategic investment of US$20 million in Rokid Corporation Ltd.

What is the purpose of the 5-year strategic partnership agreement between NetDragon and Rokid?

The partnership aims to pursue metaverse opportunities globally with Rokid's state-of-the-art Augmented Reality (AR) technologies.

Who is Dr. Simon Leung and what is his view on AR technologies?

Dr. Simon Leung is NetDragon Group Vice Chairman and Executive Director. He believes AR will be one of the core technologies to enable the metaverse in the years to come, broadening the number and variety of use cases, especially in education and gaming.

Who is Mr. Misa Zhu and what is his view on the partnership with NetDragon?

Mr. Misa Zhu is the Founder and CEO of Rokid. He is happy to have NetDragon onboard as a close strategic partner, aiming to leverage their knowledge and know-how in education and gaming, as well as their global sales network.