PostDate:
REDWOOD CITY, CA November 4, 2014
Avegant today announced the close of an extended $9.37 million series A round of venture funding led by Intel Capital and NHN Investment. The company will use the funds to further development of its near-eye display technology, code-named Glyph, a premium pair of headphones with integrated video. The Glyph takes advantage of micromirror technology to deliver an ultra-high quality image in a unique headphone form factor.
“This is a landmark time in Avegant’s growth profile,” Joerg Tewes, CEO of Avegant said. “Funds from this round will help carry Avegant through its manufacturing milestones and solidify our delivery commitments. I couldn’t be more excited in the future of Avegant and the near-eye display industry.”
Other investors include Kaiwu Capital, Crunch Fund, 500 Startups, DN Capital, Calvin Broadus Jr. and the Michigan Angel Fund.
Avegant was a New Enterprise Forum Showcase Presenter in April, 2013, and won the NEF’s 2013 “Best Technology” Award.
