Qualcomm-powered Chinese XR startup Nreal raises $40 million Nreal, one of the most-watched mixed reality startups in China, just secured $40 million from a group of high-profile investors in a Series B round that could potentially bring more adoption to its portable augmented glasses . Kuaishou, the archrival to TikTok’s Chinese version Douyin, led the round, marking yet another video platform to establish links with Nreal following existing investor iQiyi, China’s own Netflix. Like other major video streaming sites around the world, Kuaishou and iQiyi have dabbled in making augmented reality content, and securing a hardware partner will no doubt be instrumental to their early experiments. Other backers in the round with plentiful industry resources include GP Capital , which counts state-owned financial holding group Shanghai International Group and major Chinese movie studio Hengdian Group as investors; CCEIF Fund , set up by state-owned telecom equipment maker China Electronics