WaveOptics designs and manufactures diffractive waveguides, the key optical component used in near-eye transparent displays for AR wearables. The company offers 40° and 28° field-of-view waveguide products and a 40° light engine to accelerate prototyping and product development. Its patented technology transfers projector light into the user’s eye to deliver a large eye-box, binocular viewing and high field of view with crisp, stable imagery. WaveOptics has secured partnerships with global OEMs and ODMs and an exclusive manufacturing agreement with Goertek to enable mass production at consumer price points. The business raised an oversubscribed $39m Series C (an initial $26m tranche in December 2018 plus a $13m final stage) to scale operations in the UK, US and Asia and build high-volume manufacturing capability. WaveOptics aims to be the core optical component across industrial, enterprise and consumer AR markets as devices move from prototyping to commercial launch. WaveOptics is a world-leading designer and manufacturer of diffractive waveguides, the key optical component in wearable augmented reality devices. Its waveguides transfer light from a minute projector into the user’s eye to enable immersive AR experiences across industrial, enterprise, and consumer markets. The company says it is working with a wide range of leading global OEMs and ODMs as they ramp up product development. WaveOptics raised $26 million in the first stage of a Series C to scale operations and support international expansion. The capital will be used to scale up rapidly around the world, particularly in Asia and the US, and to manage and support an increasing number of customers across different sectors. Securing Goertek as a shareholder is described as a strategic development that will significantly expand the company’s reach. The company anticipates closing further funding in the coming months. WaveOptics is a UK company that builds waveguide-based optics for augmented reality, using hologram physics and photonic crystals. Its core product aims to deliver wider field of view and brighter full-colour images while addressing performance, form factor and scalability tradeoffs. The company positions its optics to be used across different AR hardware, targeting both consumer and enterprise markets. Founders Sumanta Talukdar and David Grey say first products are likely to hit the market next year. Financially, WaveOptics has completed a $16M Series B and had previously raised roughly $400,000; the company declined to disclose a valuation. Management says the new funding will complete product development, accelerate technology deployment, and support launches in new markets while focusing on building product and client relationships rather than exiting. WaveOptics develops patented optical display technology that produces full-colour, see-through augmented reality (AR) displays. The company is led by CEO and founder Sumanta Talukdar. It intends to use newly raised funds to strengthen its position in the AR market, with a focus on increasing market penetration in enterprise customers. WaveOptics also plans to accelerate its level of engagement in the consumer market. The company is based in Abingdon-on-Thames, UK. The fundraising reported was a multi-million pound round led to support these growth priorities.

Total raised

$78M

Funding rounds

4

Latest round

Series C

Latest activity

Sep 2019