Vuzix Receives $24.8M Investment from Intel
Vuzix has been developing video and optical see-through hands-free displays for AR for over a decade. A pioneer in the segment, the company has continued to develop new products, to partner with others and grow a developer ecosystem despite competition from the likes of Google.
In an effort to maintain momentum the company spun off a defense supply business, Six15 Technologies, in 2012. As disclosed in this press release, the company’s financial condition is significantly improved by Intel’s investment. Although the focus of the announcement mentions consumer products, Vuzix’s line of enterprise displays should also benefit from the additional working capital.