WaveOptics Secures Funding to Scale the Business to Meet Growing Augmented Reality Market Demand
WaveOptics, the world leading designer and manufacturer of waveguide displays, the key optical component used in Augmented Reality (AR) wearables, has closed an oversubscribed $39m (£30m) Series C funding round. WaveOptics raised an additional $13m (£10m) in the final stage, having raised an initial $26m (£20m) in December 2018.
This final stage was supported by existing investor Goertek, a global leader in the design and manufacturing of high-tech consumer electronics, and new investor Hostplus, one of the largest institutional investors in Australian venture capital.
WaveOptics has a unique market position as a leading AR hardware business at the heart of the rapidly growing AR ecosystem, which is widely forecast to be one of the biggest technological advancements since the smartphone.
David Hayes, WaveOptics CEO, commented:
“Completing the Series C funding is an another important step for the business, enabling us to accelerate our growth to meet the increasing international customer demand. The oversubscription also validates the quality and potential of our technology to our partners and investors and is clear recognition of our leading position in the AR market.
“We are seeing significant progress with our customers developing their own products based on our technology. This was demonstrated in the first half of 2019 when we secured a number of significant partnerships with global OEMs and ODMs.
“This is an exciting time and we are perfectly positioned to help our customers bring to market one of the most significant technologies since the launch of the smart phone.”
WaveOptics is the world leading designer and manufacturer of diffractive waveguides, the key optical component in wearable augmented reality (AR) devices.
AR wearables, such as smart glasses, enable users to see computer-generated images overlaid on top of the real world. There are two key elements that allow these images to be seen – a light source such as a minute projector and a means of transferring the image from the projector into the user’s eyes.
WaveOptics’ waveguide technology transfers the light waves from the light source and projects them into the user’s eye.
Adrian Duffield/Chantal Woolcock
+44 20 7457 2077
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
IWBI Announces New Co-chairs and More than 225 Members of the Task Force on COVID-19 and Other Respiratory Infections: Prevention and Preparedness, Resilience and Recovery7.4.2020 00:03:00 EEST | Press release
The International WELL Building Institute (IWBI) today announced the addition of four renowned industry, academic and public health leaders from the U.S., United Kingdom, China and Singapore as the newest co-chairs of its Task Force on COVID-19 and other Respiratory Infections: Prevention and Preparedness, Resilience and Recovery. They join expert co-chairs from the U.S. and others from China who will help define the critical role buildings, organizations and communities play in reducing the health burden from this and other infectious diseases. Adding to the expertise of the Task Force as co-chairs are Despina Katsikakis, international partner and head of occupier business performance at Cushman & Wakefield; Dr. Wang Qingqin, vice president of China Academy of Building Science (CABR); Dr. Lam Khee Poh, Provost's Chair professor of Architecture and Building and dean, School of Design And Environment, National University of Singapore, and Joanne Mahoney, chief operating officer at the S
CORRECTING and REPLACING Global Plasma Leaders Collaborate to Accelerate Development of Potential COVID-19 Hyperimmune Therapy6.4.2020 20:58:00 EEST | Press release
Please replace the release with the following corrected version due to multiple revisions to the Octapharma boilerplate and inclusion of additional multimedia. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200406005285/en/ GLOBAL PLASMA LEADERS COLLABORATE TO ACCELERATE DEVELOPMENT OF POTENTIAL COVID-19 HYPERIMMUNE THERAPY Partnership brings together world-leading plasma companies to focus on developing and delivering a hyperimmune immunoglobulin in the global fight against COVID-19 Biotest, BPL, LFB, and Octapharma have joined an alliance formed by CSL Behring (ASX:CSL/USOTC:CSLLY) and Takeda Pharmaceutical Company Limited (TOKYO:4502/NYSE:TAK) to develop a potential plasma-derived therapy for treating COVID-19. The alliance will begin immediately with the investigational development of one, unbranded anti-SARS-CoV-2 polyclonal hyperimmune immunoglobulin medicine with the potential to treat individuals with serious complic
Cognite Awarded Google Cloud Technology Partner of the Year 2019 for Manufacturing6.4.2020 19:00:00 EEST | Press release
Cognite, a global industrial DataOps and AI software-as-a-service (SaaS) company, was announced as the 2019 Google Cloud Technology Partner of the Year for Manufacturing. Cognite currently supports the full-scale digital transformation of heavy-asset industries around the world, empowering industrial companies to save on costs, reduce environmental footprints to improve sustainability and increase profits made possible through Cognite Data Fusion (CDF). This international award recognizes one Partner that has implemented multiple Google Cloud technologies to demonstrate how they work together easily to deliver solutions based on individual customer needs. “We appreciate being recognized for creating value through our software products by turning historical and real-time industrial data into insights. We have seen a number of our manufacturing clients develop and deliver new digital services and even transform their business model as a result of using Cognite Data Fusion,” said Dr. John
Verimatrix Announces Server-side Watermarking Integration with Akamai Intelligent Edge Platform6.4.2020 18:45:00 EEST | Press release
Regulatory News: Verimatrix, (Paris:VMX), formerly known as Inside Secure, a global provider of innovative, customer-friendly cybersecurity solutions that protect content, devices, software and applications, today announced a partnership with Akamai, the intelligent edge platform for securing and delivering digital experiences, to offer global enterprise server-side watermarking capabilities. By using Verimatrix server-side Watermarking pre-integrated with Akamai's Intelligent Edge Platform, Akamai customers can take advantage of a highly efficient, powerful approach to ensure that their premium video content stays protected. The unauthorized redistribution of content, especially restreaming of live sports events, leads to millions of dollars in annual lost revenue. Verimatrix Watermarking consists of session-based, user-specific tracking and source identification, which allows operators to trace sources of pirated content in real time. It is robust against various attack types, includ
Alpega TMS Brings Together the Expertise of inet and Transwide6.4.2020 17:00:00 EEST | Press release
Alpega Group announces Alpega TMS, a union of inet and Transwide’s cloud-based Transportation Management Systems. The new software provides a uniquely scalable solution, designed to manage all levels of logistics complexity. At the same time, Alpega Group has been recognized as a Challenger in Gartner’s 2020 Magic Quadrant for Transportation Management Systems. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200406005391/en/ Alpega Group announces Alpega TMS, a union of inet and Transwide’s cloud-based Transportation Management Systems. The new software provides a uniquely scalable solution, designed to manage all levels of logistics complexity. At the same time, Alpega Group has been recognized as a Challenger in Gartner’s 2020 Magic Quadrant for Transportation Management Systems. (Photo: Business Wire) Alpega TMS is the combination of two of the market’s most innovative, established and trusted solutions. inet has long been
Brightcove Launches New Mobile App to Streamline Employee Communications via Video6.4.2020 16:00:00 EEST | Press release
Brightcove Inc. (NASDAQ:BCOV), the leading provider of cloud services for video, today announced Brightcove Engage™, a purpose-built application developed for internal communications professionals to inform employees using the most powerful and effective means of communication ever created: mobile video. With templates for quickly organizing content, analytics for monitoring engagement, and enterprise-grade security and stability, Brightcove Engage streamlines internal communications using the power of video. Studies have shown that employee engagement is highly related to positive business outcomes, therefore Brightcove Engage fills a significant market need by allowing employees to view content in a modern, interactive way. Merging the two most effective mediums of digital communications – video and mobile – Brightcove Engage empowers internal communications professionals to build branded mobile experiences and securely broadcast company-wide live events, like town halls, as well as
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom