March 29, 2023 – OQmented, a provider of MEMS-based augmented and mixed reality (AR/MR) display technology and 3D sensing solutions, has this week announced that it has raised USD $20 million in a Series A fundraising round. Strategic investors in the financing round included Sharp, a leading electronic device and display manufacturers. Existing investors also participating in the round included Salvia, Vsquared Ventures and others.
OQmented states that it enables tech companies and eyeglass manufacturers to build stylish all-day wearable augmented or mixed reality glasses. To that end, the startup develops ultra-compact MEMS-based light engines, utilizing laser beam scanning. According to OQmented, this type of technology offers several advantages over competitive approaches, including:
- Lower power consumption;
- Smaller size;
- Higher brightness & contrast, and
- Superior display performance.
The company noted that all of these are requirements for lightweight consumer AR glasses that are suitable for outdoor use. The strategic cooperation with Sharp therefore supports OQmented’s ambition to become a key enabler for consumer augmented reality glasses.
OQmented will now aim to leverage the synergies of Sharp’s electronic device and display manufacturing expertise and combine this with OQmented’s own unique IP and know-how in LBS-based micro-displays. As a result, the cooperation will help to consolidate OQmented’s strategy to offer complete light engines as Plug and Play solutions, ready for integration.
“Big tech companies and other players are racing to accomplish consumer AR glasses that are ultimately able to replace the smartphone,” said Thomas von Wantoch, co-CEO and co-founder of OQmented. “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. We are excited that we gained Sharp as a strategic investor with years of experience as one of the largest suppliers for displays and electronic devices.”
Wantoch also noted that the cooperation will enable OQmented to offer its light engine with integrated MEMS, electronics and laser as a one-stop shop solution for its customers, in order to help strengthen the company’s position as key enabler for the AR/MR market.
David Woodward, President of Sharp Devices Europe GmbH, commented: “We look forward to accelerating our cooperation with OQmented and to realizing 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. Thomas and Ulrich are leading a fast moving startup company with a growing team of highly motivated dynamic staff, demonstrating leading edge innovation. We are very excited to utilize the many synergies available between OQmented and Sharp’s own technologies and device industrialization.”
OQmented stated that it now has plans to expand its office and laboratory space, and that it intends to hire several key employees and strengthen its business development team as it eyes access to the U.S. and Asian markets.
For more information on OQmented and its MEMS-based display technology for AR and MR, please visit the company’s website.
Image credit: OQmented
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Sam is the Founder and Managing Editor of Auganix. With a background in research and report writing, he has been covering XR industry news for the past seven years.