Lin Qiong | Chairman of Shanghai Xvisio Sensing Technology Co., Ltd.

People's Daily Online - Shanghai Channel (Ge Junjun/Text by Gu Haimin (intern)/Video) "In 2016, cutting-edge AR/VR and home robot products were in their introduction phase. These products are deeply dependent on artificial intelligence and spatial perception interaction technologies." Based on the development trends of the industry and the country's strategic layout, Lin Qiong once again stood at the forefront of technological change and embarked on his third entrepreneurial journey with his fellow "dream-chasing veterans."

"We're creating a product that's unprecedented. We're opening up our core unit technology to the industry, device-izing system-level solutions with the goal of lowering the barrier to entry for adoption." Xvisio Technology's team, focused on the underlying technologies for spatial perception and interaction, and its unique product deployment capabilities, have quickly garnered attention and recognition from investors. At the end of 2017, Lin Qiong's potential was evident when he landed in Shanghai with a 16.5 million yuan angel round led by Zhongke Chuangxing.

"We landed in the right market at the right time, with the right people, and at the right time. We were fully prepared, just before the industry took off." Lin Qiong believes that the right time, right location, and right people are all essential. Over the past three years, Xvisio Technology has completed the strategic upgrade and deployment of its product portfolio, from system-level modules to a one-stop interactive platform, and finally to the system-level delivery of highly customizable AR glasses.

SlimEdge XR Starter Kit-B50

In 2018, Xvisio Technology completed technology transformation and product implementation, and achieved sales of its first-generation product, VSLAM sensors; in July 2019, it achieved mass production and supply of AR products and robotics products; in October, it launched the SlimEdge XR end-processing interaction solution; in July 2020, it completed tens of millions of Series A financing, and in August launched the XR Starter Kit, a reference design solution for AR glasses products. This marks the final implementation of Xvisio's core technology in industry terminal products, and the company has entered the 2.0 era.

While the company may appear to be thriving from the outside, Lin Qiong admits that Xvisio Technology's path to success over the past three years has not been smooth. "Frankly, back then, we had no idea in which field we would be able to establish ourselves."

AI-enabled system-level modules

In Lin Qiong's words, it was a confusing period, like "finding nails with a hammer." He explored many paths and scenarios, including AR/VR glasses, robot vacuums, and service robots. Ultimately, Xvisio Technology decided to focus on the business-to-business market for AR glasses, which had a stronger demand for high-performance VSLAM unit technology. Furthermore, they also found a niche in home care robots.

Unlike other tech companies that rely on a cash-burning model, Xvisio Technology has generated sales revenue since 2018. "As veteran entrepreneurs, our experience is to ensure that companies can demonstrate value—that is, possess the ability to create value," Lin Qiong revealed. Over the past two years, Xvisio Technology has achieved sales revenue of tens of millions of yuan.

The company has achieved some success, but friends still express confusion about why a Beijing native like him would leave his hometown for Shanghai. Lin Qiong's descriptions of Shanghai, characterized by its "good environment," "strong support," "friendly environment," "high efficiency," and "a grand stage," highlight his optimism about the city's business environment and, even more so, its entrepreneurial spirit. "Changning is a blessed place. It's here that we've achieved the transformation of our technology into a commercial product and industrialized one."

Booth scene photos

Over the past three years, Xvisio Technology has accumulated numerous successful project experiences. This allows it to not only empower customized AR/VR product brands but also provide one-stop AR complete device solutions to the application market. Lin Qiong believes a market worth hundreds of billions of yuan is emerging.

In April 2017, under prolonged stress, Lin Qiong nearly lost an ear to sudden deafness. Hearing loss in his left ear reached 100 decibels, making it impossible to locate sound sources and severely impacting both his work and personal life. A year and a half earlier, the company nearly collapsed amidst a capital winter. Investors' wait-and-see attitude, and customers' indecision and delayed payments nearly shattered Xvisio Technology's funding chain.

Xvisio Technology founder and CEO Lin Qiong

Lin Qiong's unwavering commitment to entrepreneurship has kept his core team persevering. "Our team is incredibly optimistic. Everyone believes that what we're working on will contribute to the industry's success and to human well-being. Just like the 'X' in Xvisio's English name, it represents limitless imagination and possibilities." Today, entrepreneurship is not only Lin Qiong's tireless pursuit, but also his way of life.

In 2020, Xvisio Technology went against the current during the epidemic: business revenue tripled year-on-year, achieving a "big harvest"; it was also selected for the Changning District Artificial Intelligence Special Fund and the Ministry of Science and Technology's "Science and Technology to Help the Economy 2020" national key project.

An excellent team, an industry boom, favorable policies, a mature capital market, and especially the establishment of the Science and Technology Innovation Board (STAR Market) have created a favorable external environment for technology startups focused on core technologies. "Our next goal is to empower a new generation of human-computer interaction experiences and industrialize this technology." From core algorithms to underlying technologies, systems, and end-products, Lin Qiong is confident in Xvisio Technology. (Photo courtesy of Xvisio Technology)

Source: People's Daily Online - Shanghai Channel Original report link: http://sh.people.com.cn/n2/2021/0113/c134768-34526234.html

Founded in Silicon Valley in 2016 and established in Shanghai after receiving angel investment in 2017, Xvisio Technology is a solutions provider specializing in spatial perception and interaction, providing underlying technologies and system integration for AR/VR headsets. Its core product, SlimEdge XR, is an integrated edge processing platform that integrates a VSLAM engine, a depth engine, an AI engine, an audio and video engine, and gesture and eye control, suitable for both standalone and standalone XR devices. The founding team, all from Fortune 500 companies and a series of entrepreneurial ventures, has accumulated years of industry-leading research results and currently has subsidiaries in the United States and Europe.