WaveOptics, an Abingdon, Oxfordshire, UK-based augmented reality company, secured £12m in Series B funding.
Backers included Octopus Ventures, Touchstone Innovations, Robert Bosch Venture Capital GmbH and Gobi Ventures.
The company intends to use the funds to accelerate development of its technologies and to launch programs in new markets and territories.
Founded by Sumanta Talukdar and David Grey in 2012, WaveOptics is developing novel optical waveguide technology and modules for augmented reality displays which enable people to view the world around them, overlaid with relevant digital content.
The core of the WaveOptics technology is a novel design of waveguide that is able to channel light input from a micro display positioned at the periphery of a glass, or in future plastic, lens. Unlike conventional technologies that rely on cumbersome prisms, mirrors or scarce materials, the company’s optical design harnesses waveguide hologram physics and photonic crystals, which enables lightweight design with unrivalled optical performance.