Meta, the US-based developer of augmented reality glasses that enable users to interact with virtual objects, secured $23m from a series A round co-led by electronic display manufacturer BOE Optoelectronics yesterday.
The round was also co-led by Horizon Ventures and private investors Tim Draper, Garry Tan and Alexis Ohanian, and also featured Danhua Capital, Commodore Partners and Vegas Tech Fund.
Meta graduated from accelerator Y Combinator, at which Tan and Ohanian are partners, in 2013. It raised angel funding from Y Combinator – which typically invested $17,000 into startups at the time – and Fenox Capital, according to Forbes.
The company secured $2m during a campaign to raise funds for the development of its glasses, including approximately $195,000 on crowdfunding website Kickstarter.
The glasses allow users to see, create and interact with digital objects via hand gestures. Cloud computing company Salesforce and architecture firm Arup have begun building applications on top of the technology.
Meron Gribetz, CEO of Meta, said: “We are humbled by the calibre of investors that have backed us and are helping us turn our dream into a reality. These are the very same people who first put their faith in Tesla and SpaceX and are now placing their confidence in our vision, and we could not be more proud.”
– Image courtesy of Meta