Tencent Holdings Ltd. and Lenovo Group Ltd. have joined a $50 million round of funding for Silicon Valley augmented-reality startup Meta, as China’s largest technology corporations expand their investments into the burgeoning field.
The money will bankroll a more advanced version of Meta’s AR headset that won’t require a PC for use, Chief Executive Officer Meron Gribetz said. Other investors in the Series B round include Horizons Ventures Ltd., Banyan Capital, and Comcast Ventures, the venture arm of Comcast Corp. Backed by Hong Kong’s richest person, Horizons Ventures led the company’s $23 million Series A funding last year.
