Augmented reality company Meta announced the closing of $50 million in a Series B round of funding, which includes Horizons Ventures Limited, Lenovo, Tencent, Banyan Capital, Comcast Ventures and GQY.
“Augmented reality represents a transformational platform for communication, collaboration and how individuals will work in the future,” Michael Yang, managing director at Comcast Ventures, says. “Meta’s platform enables a host of new ways to conduct business across a wide array of industries. We look forward to supporting Meta as our first investment in the AR market.”
Meta is delivering what it calls “a new ‘natural machine’ that builds on the principles of neuroscience to create a completely intuitive experience that transforms how people work, play, communicate and engage with each other.” Videos reviewing the technology’s use in manufacturing, media, medicine, 3D modeling and other areas are available here.
“It is incredibly gratifying to have the support of big thinkers and investors who understand the importance of creating a new human-computer interface, anchored in science,” Meron Gribetz, CEO of Meta, says. “They understand that the combination of our advanced optical engines along with our neuroscience-based interface design approach are what will create a computing experience that is 100x easier to use and more powerful than traditional form factors.”
Meta reports it plans to use funds raised in to build on its hardware and software technology base, business expansion, including app development, and developing the next generation of its technology, Meta 3.
