Israeli startup Lumus, a developer of wearable augmented reality (AR) displays, closed a $45 million Series C round. The investment was led by Taiwan-based Quanta Computer with participation from HTC, Shanda Group, and Crystal Optech.
“AR/VR is well aligned with our growth strategy and we’re pleased to invest in the Lumus optics solution for augmented reality," C.C. Leung, vice chairman and president of Quanta, said in a statement. "This is pioneering technology, and we have great confidence in Lumus as an innovator and industry leader for transparent optical displays in the AR market.”
Wearers of Lumus's smart glasses can use them to check email, search the Internet, and navigate, among other features, using a micro-projector and motion-detection technology. Despite their high tech capabilities, the glasses have an inconspicuous, normal aesthetic. A study by the International Data Corporation (IDC) projects that one billion people could be using the technology on a daily basis within the next five years.
“This new funding will help Lumus continue to scale up our R&D and production in response to the growing demand from companies creating new augmented reality and mixed reality applications, including consumer electronics and smart eyeglasses,” CEO Ben Weinberger said in a statement. “We also plan to ramp up our marketing efforts in order to realize and capture the tremendous potential of our unique technology to re-envision reality in the booming AR industry.”
Read more: Business Wire (Press release)