SAN
FRANCISCO, May 7, 2024 /PRNewswire/ -- XR tech
startup OPTIX announced that it has closed its oversubscribed Pre-A
funding round led by Primavera Venture Partners. Existing investors
Lanchi Ventures also participated, bringing OPTIX total equity
raise to US$15M. The investment is
OPTIX's third funding round in less than two years since the
company was established in August
2022. OPTIX Angel round was led by Lanchi Ventures with
participation from Vlight Capital.
OPTIX develops cutting-edge optics technology and offers
advanced solutions for the next-gen AR and VR products. With
technology as its core, OPTIX focuses on VR Pancake in-house design and
fabrication, and AR waveguide technologies including Geometric
Waveguide, SRG Waveguide, and VHG Waveguide.
OPTIX dives deep into the underlying physical principles,
materials, equipment, and fabrication processes to ensure
high-quality standards and to deliver the best product to meet
customers' extremely high expectations.
"Optics plays a crucial role in
XR hardware. The technology itself is very challenging because it
needs to be highly integrated with other subsystems, at the same
time, be manufacturable at mass production scale", Gary Yan, Founder and CEO of OPTIX said on
the fundraising announcement, "Our goal is to provide the ultimate
optical experience, and to create outstanding AR and VR products in
collaboration with world-leading customers and industry
partners."
"We are excited to be backed by Primavera Venture Partners,
Lanchi Ventures, and Vlight Capital. Their wealth of experience,
foresight, and strong support are essential for us to achieve
long-term goals," said Yan.
The new funding comes on a heel of a rapid growth year for
OPTIX. The company has established its own laboratory and
manufacturing process, and has been simultaneously focusing on key
optics technologies for both AR and VR. Within weeks of Apple
releasing its first headset Vision Pro in June 2023, OPTIX published their VR Pancake
optical module, which has a resolution of 8K binoculars, and a field-of-view that is larger
than Vision Pro for more than 15 degrees. The extremely delicate
picture and 3D display effects have been unanimously recognized by
many customers worldwide. Next step, OPTIX will further integrate
gaze tracking, foveated rendering and PB Lens into the iterated
pancake module, and AR waveguide module will be launched in Q3
2024.
Primavera Venture Partners said "The VR and AR
market holds immense potential in the long term. The continuous
strategic development of VR and AR by global technology leaders has
not only marked a significant turning point for the industry, but
it has also shown us the vast possibilities of VR and AR in
transforming our daily lives. The breakthrough of products hinges
upon the advancement of core optical module technology. OPTIX,
backed by its full-stack team in optical module design and process
and its solid understanding of technology, has independently
developed its unique technical advantage and specialization.
OPTIX's products have gained recognition from many renowned brands
for its industry-leading optical performance. We look forward to
seeing OPTIX leveraging its capabilities in terminal design and
supply chain technology to better support the industry in
overcoming bottlenecks in optical solutions and enrich our everyday
life through the lens of XR technology."
Lanchi Ventures said "XR devices are expected to
become the next generation of mobile computing platforms, with
tremendous potential market space. Leveraging years of experience
in XR optics and innovative display technology, OPTIX team has
accumulated research experience from top-tier tech companies. They
possess full-stack capabilities from fundamental optical design and
material selection to mass production. We believe that the team can
continue to insightfully observe industry development trends and
promote bottom-up technological innovation."
About OPTIX
Founded in August
2022, OPTIX develops cutting-edge optics technology and
offers advanced solutions for the next-gen AR and VR products.
OPTIX dives deep into the underlying physical principles,
materials, equipment, and fabrication processes to ensure
high-quality standards and to deliver the best product to meet
customers' extremely high expectations. OPTIX has gained strong
support with a $15 million commitment
to date from world-leading investors including Primavera Venture
Partners, Lanchi Ventures and Vlight Capital.
About Primavera Venture Partners
Primavera Venture
Partners ("PVP") is an early-stage investment platform under
Primavera Capital Group that focuses on artificial intelligence and
its related vertical applications, as well as new generation
technology, healthcare and advanced manufacturing related
opportunities. PVP's mission is to partner with the most visionary
founders and use AI to solve some of the world's toughest problems.
Its portfolio includes ModelBest Intelligent Technology, SiEngine
Technology, Subtle Medical, Accession Therapeutics, Kira Learning,
Noah Medical, Dimension, Navier, Aurora Yaocheng, Analytical
Biosciences, Accutar Biotech, Xbiome and JanaEnergy, etc.
About Lanchi Ventures
Lanchi Ventures is a leading
early-stage venture firm headquartered in Singapore. The firm was founded by
Jui Tan, who was then the General
Partner at BlueRun Ventures, a global venture capital firm
headquartered in Silicon Valley. Lanchi Ventures focuses on
investing in entrepreneurs who create a sustainable impact through
technological innovations. With over $2
billion in assets under management, the firm has invested in
over 200 portfolio companies.
About Vlight Capital
Vlight Capital is a professional
investment institution focusing on future emerging industries,
adhering to the concepts of value investment and industry chain
investment. It mainly invests in the fields of new energy, new
materials, intelligent connectivity, intelligent manufacturing,
VR/AR, artificial intelligence and other software and hardware, as
well as cross-border innovation between automobile and technology,
energy, logistics and transportation. Vlight Capital is committed
to connecting technological innovation with industrial
transformation, helping entrepreneurs realize their entrepreneurial
visions and create business value through investment. Its portfolio
includes WELION New Energy, Seyond, DeepWay, Casstime, PaXini
Technology, Tsing Standard, INSNEX
and Yuanbao Tech, etc.
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SOURCE OPTIX