Temasek-Backed Startup Is Augmented Reality’s Newest Unicorn

Temasek Holdings Pte-backed Chinese augmented reality startup Rokid Inc. has raised $112 million at a valuation of $1 billion to help expand overseas, the latest to bet on next-generation hardware’s ability to bring about a mixed-reality future.

New investors in the Hangzhou-based company include Chinese online gaming and education service provider NetDragon Websoft Holdings Ltd. Rokid, which has raised close to $200 million so far, said it’ll explore AR applications in education and that it expects overseas revenue to exceed domestic sales in 2024, without disclosing any figures.

“The company’s globalization plan was delayed due to the pandemic and ...