Israel-based augmented reality (AR) technology producer Lumus closed a $45m series C round yesterday with a $30m extension led by laptop manufacturer Quanta Computer.
Smartphone and virtual reality (VR) headset maker HTC and undisclosed existing investors also contributed to the extension, which added to an initial $15m tranche closed in June 2016 that was led by investment group Shanda and backed by photoelectric display equipment maker Crystal-Optech.
Incorporated in 2000, Lumus is working on transparent AR displays for eyewear products aimed at diverse range of sectors including healthcare, consumer products and manufacturing logistics. The money will support increased development, operations and marketing activities.
Lumus had previously secured $6m in capital from Jerusalem Global Ventures and Vaizra Investments in 2012, following $7m in earlier funding according to Geektime.
Motorola Solutions Venture Capital, the corporate venturing unit then known as Motorola Ventures, and Jerusalem Venture Partners injected an undisclosed amount of series B capital in 2005.
CC Leung, vice-chairman and president of Quanta Computer, said: “AR/VR is well aligned with our growth strategy and we are pleased to invest in the Lumus optics solution for augmented reality.
“This is pioneering technology, and we have great confidence in Lumus as an innovator and industry leader for transparent optical displays in the AR market.”