Alibaba is set to invest in Taiwanese augmented reality (AR) startup Perfect Corp, aiming to bring its virtual try-on technology to its online platform.
Perfect Corp’s funding round will be led by Alibaba, marking the Chinese tech giant’s largest investment in Taiwan, and will also include support from Chinese venture capitol firm CCV and Taiwan’s Cyberlink Corp.
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Alibaba and Perfect Corp also announced a strategic partnership which will aim to integrate its AR powered beauty technology, enabling customers to virtually try on a range of accessories and makeup, to its Tmall and Taoboa marketplaces.
No financial details of the partnership have yet been published.
“This is a classic win-win strategic partnership,” HSBC’s head of Asia technology mergers Jeremy Choi told Reuters.
“Perfect strengthens its business and network in the important Chinese market and customers gain a better shopping experience.”
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