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RealWear raises $80M for its industrial augmented reality headset

  • GeekWire
  • 11 months ago

RealWear announced a whopping $80 million Series B equity and debt round led by Teradyne, a publicly-traded supplier of automatic test equipment. This is Teradyne’s first investment in a private company. The venture capital arms of Qualcomm and Bose also participated, along with Kopin Corporation and JP Morgan Chase. RealWear will use the funds, which are a combination of equity and debt, to continue market expansion and accelerate its popular hands-free platform development.

RealWear sells ruggedized head-mounted voice-controlled AR devices that project a virtual Android tablet just below line of sight. Industrial workers use the product to do remote video calling, document navigation, guided workflow, mobile forms, and data visualization, among other tasks.

The company has shipped 15,000 units to more than 1,300 customers globally in the past 18 months. Earlier this year it inked a deal with China’s State Grid, the largest utility in the world. Other customers include Airbus, Shell, Colgate-Palmolive, Walmart, Volkswagen, Lexus, and more. BMW announced last month that it would use RealWear’s headset at more than 300 dealerships in North America.

RealWear raises $80M for its industrial augmented reality headset