DigiLens, the Silicon Valley-based waveguide maker, in the present day introduced that Samsung’s enterprise capital group Samsung Ventures is growing its stake within the firm.
On the time of this writing, neither agency has detailed the extent of the funding, stating merely that Samsung Ventures is once more investing via a convertible debt instrument.
DigiLens most lately closed its Collection C financing again in Could 2019 to the tune of $50 million, which noticed Samsung Ventures be a part of alongside UDC Ventures, Niantic, Continental AG, Sony Innovation Fund, and Diamond Edge Ventures, the VC arm of Mitsubishi Chemical Holdings Company as traders.
As a developer of waveguide shows and laser waveguide-based mild engines, DigiLens goals to make cost-effective parts for AR headsets, one thing it hopes to do at a shopper worth level sooner or later.
The corporate touts its capacity to create waveguide shows which are “smaller, thinner and lighter than standard optics and light-weight engines, and much cheaper to mass produce.”
Though the corporate is eyeing shopper AR, DigiLens has additionally built-in its know-how into heads-up shows (HUDs) for numerous industries together with cars, avionics, retail and structure.
“Samsung Ventures is a companion who totally understands all of the completely different challenges of the XR ecosystem. Optics are by far the toughest component of the subsequent platform – particularly in relation to packaging them at an reasonably priced worth level and modern kind issue that can entice mass adoption,” mentioned Chris Pickett, DigiLens CEO. “XR units merely can’t work with no compelling optical resolution – they’re the window into augmenting the world with digital content material and we imagine DigiLens’ mild engine and waveguide resolution will lastly convey high quality optics to the market. We’re massively pleased with our ecosystem of licensed producers, software program companions and OEM traders who proceed to assist us on this mission.”
Outdoors of in the present day’s funding, DigiLens has secured $110 million because it was based in 2003.
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