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WaveOptics Selects $ 26 Million in New Financing to Expand AR Optics' Next Reality Business



WaveOptics, the manufacturer of augmented reality optics, has just funded its activities with a new round of financing to achieve the goal of bringing consumer glass to market for 2019 at a cost of $ 600 The C Series round of approximately $ 26 million in financing will enable the company to scale the mass production of its waveguide displays for AR wearables and expand into international markets, including the US and Asia.

"We made great progress last year with our high performance, manufacturable, and versatile waveguides, and we are now working with a large number of the world's leading OEMs and ODMs to drive the development of their products," said David Hayes, WaveOptics CEO in a statement. "The market is gaining momentum and AR-wearables are expected to be available by the end of 201

9."

19659006] Octopus Ventures, already one of WaveOptics' largest shareholders, led the round. The IP Group, Robert Bosch Venture Capital and Gobi Partners and the new investors Goertek and Optimas Capital Partners participated. Octopus Ventures, Gobi Partners and Bosch Venture Capital also contributed in July 2017 to a series B round of approximately $ 15 million.

"We are pleased to have led the first phase of this round of financing and support the fantastic WaveOptics team as We believe the company is well on the way to becoming a world leader in technology with headquarters in the UK." said Simon King, principal of Octopus Ventures. "WaveOptics has established its position as a leading provider of optical technologies to its worldwide customers and partners, and is unique in its ability to scale AR hardware solutions to capitalize on the many capabilities of the emerging AR ecosystem."

Last month WaveOptics announced a partnership with one of its new investors, Goertek, an original design company (ODM) whose clients include electronics giants Google, Microsoft and Sony, including companies with AR ambitions. Under the agreement, Goertek will manufacture WaveOptics waveguides and create reference designs for Smartglasses with the displays.

"Securing Goertek as a shareholder is an important strategic development for us and an important endorsement of our technology," said Hayes. "We have seen a lot of interest from potential shareholders and strategic partners lately and expect further financing to be completed in the coming months."

Between the agreement with Goertek, another partnership with the EV Group Punching equipment and manufacturing process and the new round of financing, WaveOptics will launch 2019 to deliver Smartglasses with AR content displayed by its Waveguides To bring the world.

While companies like Apple have decided to buy their own AR display technology, other companies using Smartglass have ambitions. These may be manufacturers of ads like WaveOptics, Avegant, DigiLens, Lumus and others. WaveOptics is positioned as an attractive option due to its particular waveguide style, which promises a wider field of vision in a sleek form factor, and its expanded production capacity as the race of smartglasses heats up.

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