US-based waveguide optics technology developer DigiLens has completed a $22m series B round backed by electronics producers Sony and Panasonic, contract manufacturer Foxconn and tyre manufacturer Continental.
The corporates were joined by venture capital firms Alsop Louie Partners, which led the round, Dolby Family Ventures and Nautilus Venture Partners, as well as investment fund Bold Capital.
Founded in 1997, DigiLens produces waveguide component technology for use in augmented reality (AR) devices, photographically printing the required nanostructures instead of etching them.
In addition to investing, the corporates have formed strategic partnerships with DigiLens and will utilise its technology in AR displays and sensors they plan to develop for use in enterprise, consumer and transportation products.
Helmut Matschi, head of Continental’s Interior Division and a member of DigiLens’ board of directors, explained: “We believe augmented reality HUDs (head-up displays) will not only enhance driver safety, but also accelerate automated driving acceptance by enhancing the driver’s confidence in what the car actually sees and knows.
Hiroshi Mukawa, general manager of Sony’s AR Eyeglass Program, added: “The use of DigiLens waveguide technology will help us develop cutting-edge lenses that are much thinner and more transparent than any smart glass on the market today.
“The large AR-HUD display will help keep drivers safe by putting critical travel information at eye level and allowing them to see what the robot car sees.”
DigiLens raised $6.3m from backers including Alsop Louie and Dolby Family Ventures in 2014, a month after receiving $2m in financing from Trinity Capital Investment and Costella Kirsch. Its past investors include In-Q-Tel, the investment arm of the US intelligence community.
– Photo courtesy of DigiLens, Inc.