Avegant Receives $12 Million Series AA Funding from Walden SKT Venture Fund & China Walden Venture Investments
Wednesday, 29 August 2018, 19:39 IST
Avegant, a technology company developing next-gen display technologies closed $12 million in Series AA funding from the new investors Walden SKT Venture Fund & China Walden Venture Investments III, along with the existing investors. The funding will be aimed at developing the organization’s light field technology to create compelling AR applications.
Ed Tang, CEO, Avegant, says, “The consumer AR industry faces significant challenges developing displays that are high resolution, small form factor, large field-of-view, light field, and low power. The industry is excited about our unique solutions to these technical challenges, which will enable previously impossible AR experiences."
Founded in 2012, Avegant uses its deep scientific understanding of human sight and head-mounted display ergonomics to develop displays that enable AR experiences for consumers. Its Light Field Technology ensures a compelling, up-close, hands-on AR experience, and its Consumer AR Display Technology makes these experiences in a consumer wearable AR device. Avegant’s current research builds on the light field technologies and the high resolution, low latency, and high brightness retinal displays first used in Avegant’s Video Headset.
Andrew Kau, Managing Director, Walden International, says, “Many companies are trying to solve multiple, very difficult technical problems to bring AR experiences to consumers. We chose to invest in Avegant because their solutions elegantly tackle these problems in creative ways that consider human factors without losing sight of manufacturability."
Headquartered at San Francisco, Walden International is a venture capital firm with over $1.6 billion in investments that provides investors access to cross-border, IT opportunities, with the advantage of an unrivaled pan-Asia network. It has invested in over 500 companies in 12 countries, with in excess of 100 IPOs on 15 stock exchanges and more than 70 M&A exits.
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