
Chinese e-commerce giant Alibaba Group Holding Limited (NYSE: BABA) led a $60 million funding round for Nio Inc. (NYSE: NIO)-backed augmented reality glasses maker Nreal, CNBC reported on Wednesday, citing the startup.
What Happened: Beijing-based Nreal said it will use the Series C+ funding to increase R&D spending and accelerate its expansion into new markets this year — including its home market of China, as per the report.