The Hurun Institute released the Hurun Future Unicorns – Global Gazelles Index 2024 on Jan 8, highlighting high-growth companies founded since 2000 that are poised to reach a billion-dollar valuation within three years. Making the list this year was GravityXR (Ningbo) Electronic Technology Co Ltd, based in Ningbo, Zhejiang province.

Founded in September 2021, GravityXR is an XR (alternate reality/virtual reality/mixed reality) startup, providing comprehensive technological solutions with a focus on core chips, hardware technology, and advanced algorithms. Its founders hail from top tech companies such as Apple, Meta, and Huawei, bringing significant expertise in technology and product development.

GravityXR has raised substantial funds through four financing rounds, with Pre-A, Pre-A+, and series A rounds each surpassing 100 million yuan ($13.63 billion). Investment interest underscores GravityXR's market momentum.

Big data from Qichacha reveals that GravityXR's latest financing round in October 2023 attracted several top investment firms, including Monolith Capital, 37 Interactive Entertainment, and miHoYo.

In June 2023, GravityXR achieved a major milestone with the launch of its JX007 chip, produced by TSMC. The chip's advanced capabilities have led to a commercial partnership with a leading XR company to drive technological advancements in XR devices.

GravityXR is now also developing a flagship 5-nanometer chip.

The Hurun Institute's list includes 803 global gazelles, with the United States and China accounting for 73 percent of the total.