GravityXR (Ningbo) Electronic Technology Co., Ltd. announced that it has raised hundreds of millions of yuan in a round of funding led by new investor, Monolith Management on October 10, 2023. The transaction included participation from new investors, Ningbo Tongshang Fund Management Co., Ltd., China Merchants Venture Investment Management Co., Ltd., Shenzhen Qianhai Dwin Capital Management Co., Ltd, returning investors, miHoYo Technology (Shanghai) Co., Ltd, Glory Ventures, Qingdao Tongge Venture Capital Management Co., Ltd., Shanghai Zhongyuan Capital Management Co., Ltd., 37 Interactive Entertainment Network Technology Group Co., Ltd. and Sequoia Capital Operations LLC.