US-based augmented reality technology developer Avegant has raised $13.7m in series B funding from semiconductor production equipment provider Applied Materials and existing investors including chipmaker Intel, the Financial Times has reported.
Avegant is the creator of an AR headset called Glyph that makes use of a mixed reality platform dubbed Light Field Technology, which the company claims can produce ultra-high quality, detailed virtual objects that appear lifelike.
The funding represents an extension to Avegant’s series B round, which it initially closed at $24m in August 2015 with investment from Intel subsidiary Intel Capital, mobile internet technology producer Hangzhou Lian Luo, NHN Investment and Bunting Family Fund.
The company has received interest from industries such as automotive design and engineering for the technology, and founder and chief technology officer Ed Tang told ET he expects its light-field display technology to be included in products in the next 12 to 18 months.
Avegant has now raised approximately $50m since it was founded in 2012, including $9.4m in a 2014 series A round co-led by Intel Capital and NHN that included Kaiwu Capital, CrunchFund, 500 Startups, DN Capital and Michigan Angel Fund.