RealWear Inc announced an $80 million Series B financing round. RealWear will use the funds, which are a combination of equity and debt, to continue market expansion and accelerate its platform development. For more information see the IDTechEx report on Augmented, Mixed and Virtual Reality 2017-2027: Technologies, Forecasts, Players.
From its inception, RealWear has focused on products that are specifically designed for the connected enterprise workforce to improve job satisfaction, productivity and, most importantly, safety. Its industrial hands-free wearable computers enhance, rather than diminish, a worker's situational awareness while delivering vital information on-demand in the harshest of environments.
"The augmented reality enterprise market has experienced a great deal of hype, but long-term, real-world solutions have been thin on the ground. RealWear smartly recognized the need for a no-nonsense head-mounted display and has delivered no-frills products that help frontline workers to get their jobs done more safely and efficiently." said Tom Mainelli, IDCGroup VP of Devices and AR/VR.
RealWear Co-Founder and CEO, Andy Lowery, said RealWear used this same pragmatic philosophy in its fund-raising strategy. "Our seed investments came from friends, family, early customers, suppliers and business partners. Their faith carried us to our Series A, led by Columbia Ventures Corporation. CVC's experience in heavy industry, one of our primary markets, made it a perfect match. It was critical that RealWear's new investors be business and technology leaders. Teradyne, Bose Ventures, Qualcomm Ventures and Kopin fit that bill./RealWear has created a powerful platform that aligns with our vision for a safer, more productive work environment powered by easy-to-use, rapid ROI automation solutions. RealWear's strategy to leverage the power of advanced technologies like Augmented Reality to assist workers across a wide range of tasks has many parallels with Teradyne's industrial automation strategy and we look forward to helping RealWear continue their exciting growth.''
The HMT-1 and HMT-1Z1 have a completely hands-free voice-controlled user interface allowing workers to operate the tools and equipment needed for the job, even while climbing a scaffold or tower. Allowing the worker to maintain full situational awareness and maximum productivity.
Source and images: RealWear