Osterhout Design Group Just Raised $58 Million—We'll See Why at CES 2017
As we slowly approach its January 3 start date, CES 2017 seems to be shaping up to be an exciting year for smart glasses as well as augmented and mixed reality.
In a recent press release, San Francisco-based Osterhout Design Group announced closing $58 million in series A funding, along with a promise to show off its latest designs at the upcoming Consumer Electronics Show.
For those that do not follow startup financing, series A funding is the stage after seed capital. This next-level money is what is referred to as the "optimize phase"—a time to round out the business model, as well as find an effective way to monetize and spread into multiple markets.
For eight years, we've taken a very systematic approach to designing and refining our smartglasses for specific applications from the US government, industry and enterprise customers in a wide variety of markets, and that will not change. We carefully picked investment partners who not only share ODG's product vision and growth strategy, but also have the reputation and reach to expand ODG's global presence and market recognition.
This funding round, our first ever, ensures we are well positioned to introduce our latest designs at CES '17, which will likely form the largest category of smartglasses worldwide."
During CES 2016, Osterhout Design Group won an Innovation Award for their R-7 smartglasses, and if their video demo above is any indicator, it should be another good show come January.
Keep an eye out for our upcoming CES 2017 round up for AR/MR, where we'll be list everyone that is slated to be at the largest electronics show in the US this year. Are there any products you are anxiously awaiting to see? Let us know in the comments below.