NOLO leading way in comfy ergonomics

"One thing for sure, NOLO has, and will, insist on the research and development of core technologies, and will not follow the path of any other similar company," Zhang said.

"A valuable technology company should leverage core technologies to reduce costs, ensure higher gross profits, and at the same time give consumers a good experience," he added.

Zhang said that while VR devices tend to be lighter, an open cloud ecosystem is an important support for the healthy development of the VR industry. Therefore, his company has completed the adaptation of mainstream VR all-in-one devices with major domestic manufacturers like Huawei Technologies Co, Xiaomi Corp and Pico.

The Chinese company has also cooperated with telecom operator China Mobile to build cloud VR. It helped drive the General Standard for XR, an extended reality standard set led by the Ministry of Industry and Information Technology, which aims to reduce the difficulty of software and hardware adaptation for extended reality.

Though the small startup has finished six rounds of fundraising, it is far from enough for Zhang, as he expects to create a VR product that everyone can enjoy and is easy to use.

"There should be VR equipment like a mobile phone size priced at less than 1,000 yuan ($143), so that more users can buy them, making VR more into a mass consumer market," he added.