Ostendo Technologies develops a 1-centimeter-square light-emitting microchip that can give a smartphone the ability to project an image (reported capability: 1,280 by 720 pixels). The company says it is focused on bringing products to market in the augmented reality and virtual reality markets. Ostendo recently raised $41.8 million in a financing that included new investment and the conversion of debt, with the first sale in the round occurring in late June. A Securities and Exchange Commission filing dated July 14 shows the company had yet to sell $21 million of its offering. The business has taken steps to scale operations, including a 12-year lease on a 65,000-square-foot building on Aston Avenue. In a 2014 interview the company reported having 112 employees; Hussein S. El-Ghoroury is the CEO. The company also received a $58.3 million defense contract in 2012, though federal budget cuts affected part of that award.

Total raised

$42M

Funding rounds

1

Latest round

Equity

Latest activity

Oct 2016