AR tech startup OQmented has raised $20 million in its Series A fundraising round. Electronic device and display manufacturer Sharp become a strategic investor in the company, with participation from existing investors Salvia, Vsquared Ventures and others.
Thomas von Wantoch, co-CEO and co-founder of OQmented said, “Big tech companies and other players are racing to accomplish consumer AR glasses that are ultimately able to replace the smartphone. There is overwhelming demand for our product and we will use the Series A funds to accelerate getting our light engines ready for the market.”
Wantoch went on to add that the company is thrilled to have Sharp as a strategic investor, bringing its years of experience as, “One of the largest suppliers for displays and electronic devices.”
The company’s strategic cooperation with Sharp also supports its ambition to become a key enabler for consumer AR glasses. OQmented leverages the synergies of combining Sharp’s electronic device and display manufacturing expertise with unique IP and know-how in LBS-based micro-displays.
The cooperation also consolidates OQmented’s strategy to offer complete light engines as plug and play solutions, ready for integration.
David Woodward, president of Sharp devices Europe commented, “We look forward to accelerating our cooperation with OQmented and to realising the developing market of all-day wearable augmented and mixed reality glasses, along with the many differentiated markets that will eventually benefit from the key technologies and innovations driven by OQmented.”
OQmented has grown into a team of 80 people since it was founded in 2018. The startup currently has five offices across the globe and plans to expand in office and laboratory space as well as hire several key employees to strengthen its business development team.