Augmented Reality is the new concern in the technology field that is aiming high targets with powerful embedded technology. An augmented reality headset, Meta has raised $50 million in its second funding round, which now estimates the company value of $300 million. Before this, similar Florida-based Magic Leap had done a huge funding round for its AR technology.
Meta Glasses Exposure
Meron Gribetz found Meta in 2012 aimed to develop a wearable AR kit that takes to another level for viewing the world, or better- virtual world. With Augmented reality headsets by Meta, one can interact with 3D objects and other computer kits. For instance, you could play chess on a solid table, look at the mountain and see how big it is.
Meta’s motion detecting capability headsets has glasses as well as hand-gesture AR technology. The headset’s glasses contain RGB tracking cameras, QHD-quality display, and 90-degree field view optics; giving significant competition to Microsoft HoloLens. The Redwood City, California-based company created headset Meta2 back in February about which Meron has cleared that Meta2’s design contributed a brain at its the forefront.
Meron Gribetz says that he was thrilled to get the support from investors and visionaries. They understood the creation and the capabilities of the new science-based human-computer interface. Their friends at Tencent, Lenovo, Horizons and Comcast Ventures, including others got the objective of Meta and the difference it possesses from other AR players. They realized the combination of neuroscience-based interface and Meta’s optical engine’s design approach. The combination of both produces powerful computing experience leading it to 100 times easier and robust experience compared to the existing products.
Zappos, Y Combinator, Horizons Ventures Limited, Lenovo, Tencent, Banyan Capital, Comcast Ventures are some recognizable names of investors. Bin Yue, Banyan Capital’s founding partner, shares his thoughts that with a world-class team; Meta is the only firm having the capability to compete with giant companies’ AR products such as Microsoft Hololens and Magic Leap.
Inside the Future
According to the enterprise, they will use the funds to expand their hardware and software technology base. They will be working on the app development and building Meta’s next generation of headsets- Meta 3. With 150 employees to date, the company has raised $75 million.
The Bottom Line
The managing director of Comcast Ventures, Michael Yang says that Augmented Reality is a transformational platform showing the future of collaboration, communication and the way individuals will work. With Meta’s platform, new ways have been invented to conduct business across many industries. As their first investment in AR sector, they look ahead supporting Meta. According to Tech advisor Digi-Capital, there is the anticipation of $90 billion markets in augmented reality by 2020. AR market now is seen as a big emerging industry with tremendous future opportunities.