LeVR Technology in $45 million financing round

LeVR Technology Ltd, the virtual reality arm of Beijing-based technology company LeEco Holdings Co Ltd, is reported to be undergoing a round of financing worth more than 300 million yuan ($45 million).

Shenzhen China Bridge Investment Fund, the wholly owned subsidiary of Beijing China Bridge Capital Management Co Ltd, is the lead investor in the financing. Upon completion, the value of LeVR is expected to be as much as 3 billion yuan, exceeding the 1.45 billion yuan estimated value of Beijing-based Baofeng Mojing, which is currently highest-valued VR company in China.

As the financing is yet to be finalized, LeEco refused to make any comment.