RealWear, Inc., producer of the HMT-1 ruggedized head-mounted monocular pill pc, introduced in the present day an $80 million Collection B financing spherical, bringing the corporate’s whole funding to over $100 million. RealWear will use the funds, that are a mix of fairness and debt, to proceed market enlargement and speed up its well-liked hands-free platform growth. Teradyne, Inc. (TER), a world chief in industrial automation, took the lead. Different buyers embrace Bose Ventures, Qualcomm Ventures LLC (QCOM), Kopin Company (KOPN) and JPMorgan Chase & Co (JPM).
RealWear’s Collection A lead, CVC, and lots of early seed buyers have taken this chance to extend their investments in Vancouver, Washington- primarily based RealWear, stated Cofounder and CEO, Andy Lowery. “The continued help of our total ecosystem is tremendously gratifying for your complete RealWear workforce.” This traces up with Teradyne’s buy of a collaborative robots firm, Common Robots. For Kopin, the maker of the microdisplay, this can be a strategic funding in an organization executing on its shared vision of an assisted reality toolkit for the industrial worker. Qualcomm’s Snapdragon 625 microchips is utilized by RealWear.
RealWear debuted the HMT-1 head-mounted show (HMD) in September 2017. Since then it has shipped 15,000 items to 1,300 industrial enterprises around the globe. RealWear now has 120 functions that its companion ecoystem has optimized for its gadget. In keeping with the corporate, yr over yr development is 500%. Of all corporations who’ve already deployed head-mounted wearables, RealWear has already captured 40–50% of the market. Firm consultant Aaron Cohen advised me that is coming from market development, which he estimated to be 500–1000% (not a typo).
The form of AR executed with headsets like RealWear’s is usually known as “assisted actuality,” to distinguish it from immersive AR experiences with see-through shows such because the Hololens. RealWear is concentrated on preserving a related enterprise workforce heads up and hands-free, significantly growing situational consciousness and decreasing fatigue. Firms utilizing assisted actuality gadgets cite higher employee satisfaction, elevated effectivity, and higher accuracy. RealWear runs on Android so hundreds of apps can instantly be loaded onto the HMT-1 to rework them right into a hands-free voice expertise.
RealWear completed 2017 with $2M in income and 2018 at $12M in income. The corporate anticipates gross sales in mid-Eight figures this yr. RealWear is bought by way of world channels akin to Honeywell, Verizon, Barcotec and several other others VARs. “We’re growing our give attention to channels to help the demand for our merchandise in far bigger volumes,” stated Cohen.