DigiLens, a developer of holographic waveguide technology for augmented reality (AR) devices, has announced the closing of a $50 million Series C preferred equity investment round.
New strategic investment partners UDC Ventures, the corporate venture arm of Universal Display Corporation and Samsung Venture Investment Corp (Samsung Ventures) join in the round with Niantic, Continental, Sony Innovation Fund, Diamond Edge Ventures, the strategic investment arm of Mitsubishi Chemical Holdings Corporation and others. The new investments will enable DigiLens to broaden its development and innovation in high quality, holographic waveguide displays for global automobile, enterprise, consumer, avionics and military brands.
DigiLens is the leader in patented holographic waveguide displays and provides key proprietary photopolymers and core technologies for transparent, augmented reality (AR) displays for several global industries.
“We are excited to partner with DigiLens as they continue to focus on enabling a number of high growth markets with their patented holographic waveguide displays,” said Steven V. Abramson, President and CEO of Universal Display Corporation.
As part of the investment, Mr. Abramson will become a board observer and advisor to provide strategic guidance on product development and building.