Participated · Series C · Jun 2022

RealWear develops assisted-reality wearable devices and software that give frontline industrial workers hands-free, head-mounted access to real-time information and remote expertise. Its product lineup includes the RealWear Navigator 500, launched late last year as the first commercially available modular head-worn device. The company has shipped devices to thousands of enterprise customers across Energy, Manufacturing, Food & Beverage, Automotive, and Telecommunications, including Shell, Goodyear, Mars, Colgate-Palmolive, and BMW. Led by Chairman and CEO Andrew Chrostowski, RealWear intends to use new funding to grow a unified software and services platform across its human-centric wearable products. The company is based in Vancouver, Washington and maintains local offices in the United Kingdom, Singapore, Germany, Australia, the Netherlands, and Japan, and recently opened a customer experience center in Dubai. RealWear provides a knowledge-transfer platform combining rugged head-mounted hardware and hands-free workforce software to deliver in-situ information and in-field training for frontline workers. Its flagship HMT-1 is an Android-class, head-mounted wearable designed to free workers' hands while maintaining situational awareness in harsh environments. The company bundles hardware with software capabilities such as remote mentor, document navigation, industrial IoT visualization and digital workflows. RealWear reports more than 15,000 HMT systems shipped, 1,300+ enterprise customers globally, and 120+ workforce software applications. The company says it will use the new funding to continue market expansion and accelerate platform development. RealWear is based in Vancouver, Washington. RealWear sells a voice-controlled augmented reality device worn by industrial workers that supports remote video calling, document navigation, guided workflow, mobile forms and data visualization. The company offers two device versions priced at $2,000 and $5,000. It has shipped more than 10,000 units to 800 customers globally in the past 18 months, including deals with China’s State Grid, Colgate-Palmolive, Volkswagen, and Toyota. RealWear employs about 91 people and is using new funding to expand its global sales arm and invest in product development. Founded in 2016 and based in Vancouver, Wash., the company positions itself as enabling connected-worker programs by freeing workers’ hands with a fully voice-controlled Android wearable. RealWear makes the HMT-1, a rugged, hands‑free AR headset that uses a non‑transparent HUD reflected into the user’s field via a movable arm. The device is designed to act more like a hands‑free tablet than spatially aware AR headsets and prioritizes simplicity and worker safety by avoiding opaque optical overlays. RealWear targets industrial maintenance, repair and operations teams with voice-driven menus that work in noisy environments. The HMT-1 is sold online for $2,000 and the company says it has sold thousands of units. RealWear reported $2 million in revenue in 2017 and management projected $20 million in 2018. With the new funding the company intends to expand its sales and marketing teams to accelerate adoption among enterprise customers.

Participated · Series A · Jan 2012

Recon Instruments develops heads-up displays (HUDs) and smartglasses that integrate a micro-computer and sensor suite and run an operating system with an open SDK. The company has shipped three generations of products and sells a product called Jet. Recon's platform is described as modular and ruggedized, and the company has worldwide distribution and partnerships with technology and optics firms. Management emphasizes utility, durability and comfort in both consumer and activity-specific use cases. Recon plans to extend its scalable smartglasses platform into industrial and public safety markets and to accelerate product development and global marketing and distribution following the investment. Recon Instruments is a Vancouver, Canada technology company that builds consumer heads-up displays (HUDs) for sports, including the Recon Jet. The company positions itself as the maker of the world’s first consumer HUDs for sports and has shipped more than 50,000 HUDs worldwide. Its products are engineered to deliver instant, direct-to-eye information without distraction in demanding environments. The recent funding is intended to support product development, marketing, and global sales expansion. Recon also expects to leverage Intel Capital's expertise in manufacturing, operations, and technology as it scales. The article does not disclose revenue or other detailed financial terms. Recon Instruments is an innovator of Micro Optics Display (MOD) technology that integrates MOD systems with state-of-the-art sensors and GPS to deliver direct-to-eye communications for action-sport enthusiasts. Its Android-powered MOD Live near-eye product provides skiers and riders with speed, navigation, jump analytics, buddy tracking, text messages, and viewfinder functionality. The company says it will develop software for smartphones and other peripherals to extend its ecosystem and deliver performance-based information and communications. Recon noted a roadmap that includes several product launches in the coming months and years. Financially, the company secured a $10 million Series A to further commercialize its proprietary technology and provide working capital. Recon operates offices in Vancouver and London.