AR Startup WaveOptics Targets New Markets With $16 Million Funding

When writing about the future of mixed reality in December, we highlighted WaveOptics‘ efforts to curve the scalability and quality issues that were plaguing MagicLeap at the time. The company’s patented waveguide provides a hologram-based alternative to conventional augmented reality projection and they’re taking the £12 million ($15.6 million) from a series B round of funding to expand into new markets.
Reported by Business Insider, the new round of funds involved previous contributors Octopus Ventures, Touchstone Innovations, and Robert Bosch Venture Capital along with newcomer Gobi Ventures. Gobi is based out of China and has a portfolio that contains Camera360, Gokuai, Madhouse, and many others.
There aren’t any details on exactly how WaveOptics plans to expand to new markets, but AR headset manufacturers all over could benefit greatly from their waveguide tech. Efficient tech is a must for AR as manufacturers work toward more comfortable designs for AR headsets and waveguide gives way to lightweight projection and power efficiency. Progress along those lines brings us closer and closer to AR spectacles that can serve as everyday wear.
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Source: AR Startup WaveOptics Targets New Markets With Million Funding