Avegant Raises $13.7 Million for AR Heads

Avegant, a Silicon Valley start-up company that builds displays for holographic/MR head-displays, has raised a new round of funding of $13.7 million. The team’s major breakthrough in optical systems was seen by many technology leaders as the next leap in personal computing.

Mixed Reality (MR), also occasionally referred to as Augmented Reality (AR), allows viewing digital images and real-world objects simultaneously through transparent panels.

Apple CEO Tim Cook predicts that AR may eventually be as ubiquitous as a smartphone. Facebook's Zuckerberg said that his goal is to create a compact and lightweight head like ordinary glasses.

The biggest challenge here is to develop a compact optical system that requires less power and ensures portability, but at the same time produces clear and vivid images. Avegant said that it has developed optical components that provide clearer, more realistic images that are handy to master. It wants to sell its system to head-up manufacturers.

With its so-called "light field" display, the human eye can focus on different virtual objects that are related to each other, which is not possible with existing VR head-panels. The resulting image looks more natural and is less likely to cause discomfort to the viewer.

Founded in 2012, Avegant currently raises approximately US$50 million to create its own optical component—a small piece of glass that is only a few millimeters thick and has no mechanical parts.

Ed Tang, founder and chief technology officer of Aveg said: "MR will become more common, VR will become more subdivided. MR is not only an isolated experience, it is more inclusive."

Previously, Avegant had been contacted by Hangzhou for 24 million U.S. dollars for round B financing and 10 million U.S. dollars for capital increase.

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