- General
- July 1, 2019
- 6 minutes read
RealWear Raises $80 Million Series B
An industrial worker equipped with the RealWear HMT-1 head mounted AR display image: RealWear RealWear — a Vancouver, Washington-based company…
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| An industrial worker equipped with the RealWear HMT-1 head mounted AR display
image: RealWear
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RealWear — a Vancouver, Washington-based company that makes AR headsets for industrial workers — has raised $80 million in Series B financing led by Teradyne [an industrial automation giant], with participation from Bose Ventures, Qualcomm Ventures, electronics manufacturer Kopin Corporation and JPMorgan Chase & Co. The round is a mix of equity and debt financing.
This round included, RealWear has raised more than $100 million in total funding. The company has shipped more than 15,000 units of its AR head-mounted displays (HMD) to more than 1,300 enterprise customers globally. There are also roughly 120 custom apps developed for its augmented reality displays.
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| RealWear CEO Andy Lowery
image: RealWear
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RealWear’s AR device, the HMT-1, features a display mounted on an industrial helmet to assist workers with their jobs. Using RealWear’s AR headsets, industrial workers can get essential information and on-the-field training in real-time, making it easier to go about their jobs. RealWear is among a growing list of companies — to name a few; Microsoft [HoloLens], Varjo, WayRay and Epson — producing AR solutions targeted at enterprises. There are also companies like Magic Leap and China’s Nreal producing AR headsets targeted at consumers.
While still nascent, the market for AR headsets is growing, projected to jump to 31.9 million units by 2023. The AR/VR market is also projected to jump 54% to 8.9 million units this year [research from International Data Corp].
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