Israeli augmented reality startup Lumus Ltd., has raised $15 million in financing from Chinese investors. The investment was led by Shanda Group, a global private investment group, along with Crystal-Optech, a leading Chinese photo-electric component manufacturer.
Based in Rehovot, Lumus develops high-end transparent near-to-eye displays for augmented reality (AR), mixed reality (MR) and smart eyewear. Lumus will use the funding to scale up production of its market-leading, patent-protected optical technology for the emerging consumer market. Lumus develops and sells transparent displays to companies working on developing consumer and enterprise AR solutions.
“With this financing Lumus will move rapidly toward bringing our revolutionary optics technology to consumer applications,” Lumus CEO Ben Weinberger said. “Our production ramp-up is driven by demand for Lumus displays to power high-end augmented and mixed reality applications.”
“Lumus provides innovative, ground breaking optical technology for augmented reality and mixed reality that has been highly recognized industry-wide, and that is the main driver behind our leading this round of financing,” says Tianqiao Chen, Chairman and CEO of the Shanda Group. “We believe that Lumus is poised to solidify its leading position in transparent optical display as AR and MR applications are taking off.”
The Lumus near-to-eye display technology consists of the patented Light-guide Optical Elementa unique eyeglass lens that contains an array of ultra-thin transparent reflectorsand a small, patented mini-projector that injects an image into the lens. Together they offer a wide field of view, true color, brightness that enables daytime reading, and a crystal clear see-through display. With Lumus technology, wearable eyeglass displays can now be compact, comfortable, and fashionable for the first time.
Published by Globes [online], Israel business news - www.globes-online.com - on June 15, 2016
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