Sharing Economy International Inc: $30 million to be raised for investing in naked eye 3D technology

Rhea-AI Summary

Sharing Economy International Inc (SEII) announced a strategic investment of $30 million from Hanking Fund, aimed at bolstering its focus on the metaverse and naked eye 3D technology. The funding will support R&D for intelligent algorithms and 3D solutions in diverse markets including Hong Kong, Macao, and Europe. SEII plans to use 60% of the investment for new product development and 40% for enhancing partnerships in 3D technology. This move is expected to positively impact SEII's business growth and sustainability efforts.

Positive

• Secured a strategic investment of $30 million to enhance metaverse and 3D technology.
• 60% of funds allocated for R&D of new products and solutions.
• 40% to enhance collaboration on 3D upgrades with major clients.
• Focused on sustainable growth and optimization of existing business segments.

Negative

• None.

HONG KONG, April 7, 2022 /PRNewswire/ -- Sharing Economy International Inc (Stock Code: SEII) recently announced that it would received a strategic investment of approximately $30 million from Hanking Fund, a leading fund company in the industry, which will be used to focus on the metaverse ecology that SEII is actively promoting, especially for building the underlying architecture of naked eye 3D related technology and the business expansion of the metaverse technology application platform.

Sharing Economy International Inc is a company established in 1987. Since the second quarter of 2017, the Group has focused on technology and the global sharing economy market based on the global market, advocating green economy and boosting the development of the global sharing economy by developing online platforms and leasing business cooperation. Focusing on the technology and global sharing economy market, the Group now has several technology and service platforms in key markets in Asia, Europe and America, including the Sharing Film platform, which is mainly engaged in film and television production business; Through the use of 3D technology for real estate, hotel and interior design industry to provide customers with a new perspective, for each image creation to provide higher accuracy, efficiency and authenticity 3D Discovery platform, and in the field of metaverse industrialization, reserves the leading technology and application service team.

Hanking Fund is a private equity fund operated and managed by a family office in a professional way for wealthy families. It innovates and focuses on PE, bulk trading and secondary market investment. Hanking funds created the ecological management system, focus on fund investment management in several Hanking department funds in Hong Kong, Beijing, Shanghai and so on and pay attention to the global new economy industry. Hanking Fund's team successfully invested in Sina, GAMA, Kunlun Wanwei, Phoenix Media, Dazhong Dianping, Xiaomi Technology, Himalayan and Meituan project, won the high returns; Hanking fund is also the partner of CDH Investment, Walden International, Sequoia Capital, Gobi Partners, Carlyle Capital, CITIC Industrial Fund and other mainstream funds, which has a strong influence and appeal in the industry.

Hanking funds intends to make strategic investments to SEII with a total size of no more than US$30 million during 2 year period. It is reported that about 60% of such fund will be used for SEII's research and development of new technologies and products based on intelligent algorithms, application systems and intelligent interactive devices related to metaverse applications, as well as ultra-high-definition naked-eye 3D integrated solutions and software and hardware products for market expansion in Hong Kong, Macao, Southeast Asia and Europe; about 40% will be used for SEII's participation in cooperation with major customers for 3D upgrades of display panels, as well as projects promoting the combination of global leading metaverse technology and green economy.

With this round of financing, SEII will focus on completing the positive expansion of its metaverse-related businesses, further iterating and optimising its sharing and green economy businesses, and supporting sustainable growth in the overall value of the company.

View original content:https://www.prnewswire.com/news-releases/sharing-economy-international-inc-30-million-to-be-raised-for-investing-in-naked-eye-3d-technology-301519702.html

SOURCE Sharing Economy International Inc.

FAQ

What is the recent investment amount announced by SEII?

SEII announced a strategic investment of $30 million from Hanking Fund.

How will SEII utilize the $30 million investment?

SEII will allocate 60% for R&D in metaverse applications and 40% for 3D upgrade projects.

What markets will SEII focus on with the new investment?

SEII will focus on Hong Kong, Macao, Southeast Asia, and Europe.

What technology areas is SEII developing with the investment?

SEII is developing intelligent algorithms and ultra-high-definition naked-eye 3D solutions.