Series B Round Allows RealWear To Expand Distribution of HMT Industrial Wearables
REALWEAR CLOSES SERIES B, BRINGING TOTAL PRIVATE FINANCING TO OVER $100M
Huge congratulations to our alliance member RealWear Inc who this week announced a Series B raise, quintupling the funds raised to date and bringing the total private funding of RealWear to over $100m. Press release can be read here.
Andy Lowery, Cofounder and CEO of RealWear, said the following:
“RealWear’s investors in this round are impressive. RealWear teamed with JPMorgan Chase & Co. to architect an investment syndicate led by Teradyne, Inc. (TER), a global leader in industrial automation, and includes Bose Ventures, Qualcomm Ventures LLC (QCOM), Kopin Corporation (KOPN), and investors from JPMorgan’s (JPM) Private Bank.
Each of us is eager to lead industrial digital transformation globally. Every RealWear investor, from seed to series B, have recognized the significance of RealWear and the HMT product line. Our rugged hands-free wearable computer has been the fundamental nucleus triggering an acceleration of this digital renaissance.
RealWear has already achieved what no other company in our space has done before us. Now, the new private funding will enable RealWear to grow our focus on industrial safety and security, in preparation to manage an exploding number of large-scale deployments.
Since the beginning, our legendary “RealWear serendipity” struck like a bolt of lightning on February 28, 2016, when Dr. Chris Parkinson knocked on my door in Los Angeles, wearing a yellow hardhat and clutching a bag (looking like something out of a Harry Potter film). That bag contained over ten years of research in wearable computer prototype development. It was the implementation of voice recognition technology, safety-first industrial design and hands-free user experience that amazed me.
The results speak for themselves. Today, RealWear boasts 1300 customers who are saving millions while simultaneously improving safety. Over 15,000 RealWear systems are fielded today that are leveraging a software ecosystem of over 120 applications that increase the bottom line.
We spend the majority of our time today building the enablement partnerships and support tools to enable our customers with ongoing deployments, like Colgate-Palmolive, Shell, GLOBALFOUNDRIES, The State Grid of China, Honeywell, BMW, and many more.
Thank you. RealWear is here to stay.”
We are delighted at their news.
Read RealWear’s AREA member profile here. http://thearea.org/area-members/realwear/
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