US-based smart glasses producer Osterhout Design Group (ODG) closed a $58m series A round yesterday backed by media company 21st Century Group and electronic components manufacturer Shenzhen O-Film Tech.
Vanfund Urban Investment & Development and assorted angel investors also supplied funds. 21st Century Fox was first reported as an investor in the round in January 2016.
ODG, founded in 1999 as a technology incubator, is working on wearable technologies as well as augmented and virtual reality headsets. The company began shipping its first smart glasses product five years ago.
The series A investment will go towards increased production capabilities, the launch of new designs at consumer electronics conference CES 2017, the development of additional products and a recruitment drive.
Ralph Osterhout, chief executive of ODG, said: “For eight years, we have taken a very systematic approach to designing and refining our smart glasses for specific applications from the US government, industry and enterprise customers in a wide variety of markets, and that will not change.
“We carefully picked investment partners who not only share ODG’s product vision and growth strategy, but also have the reputation and reach to expand ODG’s global presence and market recognition.”