British AR optics startup WaveOptics raises £20 million

The UK-founded startup WaveOptics that designs and manufactures diffractive waveguides for AR wearables has raised £20 million in a funding round led by Octopus Ventures, with participation from IP Group, Robert Bosch Venture Capital, Gobi Partners, Goertek, and Optimas Capital Partners.

Founded in 2014 in Abingdon, WaveOptics is offering a way to make the optical part of augmented reality (AR) wearables cheaper than before by printing nanostructures directly onto glass. The company's CEO told the Telegraph that AR devices that use the company's technology could be sold for under $600, compared to the current prices of over $1,000.

WaveOptics is planning to use the fresh funding for scaling up its operations and international expansion. This year, the company opened offices in Los Angeles and Taipei; it also plans to launch another one in Beijing in 2019.