Core Insights - In September 2025, the global VR/AR sector experienced 6 financing events, raising approximately $217.2 million (about 1.546 billion RMB), marking an increase in total financing amount compared to August 2025 despite a decrease in the number of events [1][5] - The domestic VR/AR market saw 4 financing projects, with a total amount of about $42.15 million, reflecting a decrease from the previous month [1][5] - A significant single financing event of $100 million contributed notably to the total financing amount for September [1] Financing Overview - The financing events included notable companies such as Lingming Photon, Nidejia, and Mojo Vision, with amounts ranging from nearly 100 million RMB to $75 million [2][17] - Lingming Photon completed a C3 round financing, receiving nearly 100 million RMB from Zhejiang State-owned Assets Platform, aimed at accelerating core technology upgrades [7][9] - Nidejia secured strategic investment from Beijing Shijingshan District Industrial Fund, focusing on XR display optics [10][12] - Mojo Vision raised $75 million in a B+ round, with a focus on advancing its Micro-LED technology [17][20] - VITURE completed an additional $100 million in B round financing, targeting global expansion and AI-driven XR ecosystem development [21][23] Market Trends - The financing landscape indicates a preference for upstream sectors of the industry, with investments directed towards core areas such as dToF sensing chips and optical display technologies [5] - There is an influx of cross-industry capital, as evidenced by the investment from real estate firm Hualian Holdings into AR company Lijiang Realm, signaling traditional industries' interest in the VR/AR space [5] - The integration of AI with XR technologies is becoming crucial, with companies like VITURE emphasizing the role of AI in enhancing XR device interactivity and applicability [5]