Tyre and vehicle technology producer Continental has invested an amount reported by VentureBeat to be $25m in US-based optics display technology developer DigiLens, increasing its stake to 18%.
DigiLens is working on waveguide optics technology that can be used to create ultra-thin displays for products such as augmented reality headsets, and larger displays for use in products such as automotive vehicles.
Continental provided the funding in the form of series C investment. It originally participated in DigiLens’ $22m series B round, which closed in January 2017, as part of an agreement to collaborate on development of a head-up display (HUD) using the company’s technology.
Alsop Louie Partners led the series B round, which included consumer electronics producers Sony and Panasonic, manufacturing services provider Foxconn, Dolby Family Ventures, Nautilus Venture Partners and Bold Capital.
DigiLens received $8.3m from Alsop Louie, Dolby Family Ventures, Trinity Capital Investment and Costella Kirsch in 2014, and has raised a total of $60m VentureBeat said.
Thorsten-Alexander Kern, Continental’s head of HUD product development and a board member at DigiLens, said: “By reducing the size of head-up displays, this waveguide technology truly holds the potential to revolutionise the market.
“Seeing the first promising results, we are happy that we could increase our investment in DigiLens and further work together in order to bring this exciting technology on the road.”
– Photo courtesy of DigiLens