Important technology for extended reality (XR) devices--Samsung invests in DigiLens, valuation is $ 500 million (2)

(Continued from last time) This funding round is expected to close for the second time near the end of 2021 to allow other strategic investors to participate. Mr. Pickett commented on this procurement as follows.

"Today's announcement positions DigiLens as a front-runner in the race to develop the core optical technology critical to the mass deployment of smart glasses augmented reality (AR) and augmented reality (XR) devices." Waveguide display optics are the most difficult and critical step in developing head-mounted hardware.

We look forward to working with Samsung on the next important step in this category creation process. Samsung's innovative culture and proven track record of manufacturing mobile devices on a global scale will add value to the entire sector. Bringing smart glasses to market will require an ecosystem approach to deliver the timelines, volumes and cost structures required for consumer devices. This funding gives us the ingredients we need to bring smart glasses for businesses and consumers to market at a realistic price.”

Extended reality (XR) devices have the potential to be the next mobile device and represent a once-in-a-generation strategic inflection point in computing, the company says. XR has deep applications and potential in a wide range of fields such as industry, medicine, education and entertainment. XR is the next evolution of computing after laptops, tablets and smartphones. Augmented reality is a comprehensive term that includes VR (Virtual Reality), AR (Augmented Reality), and MR (Mixed Reality) devices. VR brings an immersive experience that moves the user from the physical world to the virtual one.

AR overlays the physical world with the digital to provide a more 'hands-free' experience, and MR includes elements of both. DigiLens provides technology that balances thin, lightweight, high performance, low cost, and manufacturability in waveguide displays for AR smart glasses, making it one of the de facto optical standards for smart glasses experiences. It's becoming

DigiLens' proprietary photopolymer and holographic contact copy manufacturing processes are more cost-effective and scalable than other waveguide solutions on the market, resulting in smaller, lighter, thinner and taller Realize a lens with high brightness and high efficiency. Samsung Executive Vice President Hark Sang Kim commented:

“At Samsung, we develop and innovate technologies that provide unparalleled value to customers around the world and enable experiences that exceed customer expectations. We are very pleased to invest in and work with DigiLens to prepare AR devices for the future.I am pleased to join the DigiLens board of directors and I am committed to strengthening the close relationship between our two companies."

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