IP Group-backed WaveOptics has obtained $13m to bring its series C round to $39m as it looks to scale in its target markets and ramp up production capacity.
WaveOptics, a UK-based augmented reality (AR) technology developer backed by commercialisation firm IP Group, closed a £30m ($39m) series C round yesterday following a $13m extension featuring electronic components producer Goertek.
Pension investment fund Hostplus – IP Group’s partner in the IP Group Hostplus Innovation Fund – also backed the extension, following the initial $26m close in December 2018 led by VC firm Octopus Ventures which included IP Group, Goertek, industry product maker Robert Bosch’s Venture Capital unit (RBVC), asset management company Optimas Capital Partners and VC firm Gobi Partners.
Founded in 2014, WaveOptics produces optical components known as diffractive waveguides for AR devices. The transparent waveguides offer full colour, near-eye AR displays that overlay high-resolution images on a user’s field of vision.
The series C cash has been earmarked to scale WaveOptics’ activities in the UK, US and Asia, and the company is looking to…
