AR/IoT startup RealWear snaps $17M in new funding
Feb 14 2018
Vancouver based startup RealWear has raised $13.5M (17M CAD) and seeks another $3M, reveals the startup's SEC filings. The company plans to use $20 million investment to get its product, head-worn computers called HMT-1, into the hands of more companies.
Founded in Silicon Valley, RealWear was headquartered in Milpitas, California and shifted to Vancouver in last summer with its presence in Shanghai, China. According to Silicon Forest standards, an early stage round of $20 million is a huge amount of investment.
RealWear’s product HMT-1 is a hand free wearable computer that connects industrial workers in the field and helps industrial companies implement the 'Connected Worker' program. It's OS is an Android 6.0.1 (AOSP) and runs on the Qualcomm Snapdragon 2.0 GHz 8-core chipset. It supports Bluetooth, WiFi and GPS. The wearable devices come packed with microphones, speakers, cameras, and additional ports.
Andy Lowery, CEO of RealWear stated that the company has pilot projects in the pipeline with large enterprises like Tesla, WalMart, Amazon, and Boeing. One of the investors is another Vancouver based company, Columbia Ventures which has invested $8M in the startup.
+ RealWear has 70 employees and plans are to grow to 100 employees by the end of the year.
+ HMT-1 is designed for voice-controlled, hands-free computing and can enable the worker to be more efficient, safe and cost-effective.
+ HMT-1's application is in manufacturing, utilities, construction and mining, aviation, and other industries where workers need to be connected with back-office or field staff via real-time internet connectivity .
Smartglasses investment: RealWear raises $17M from Columbia, others https://t.co/6OVawaSdhk— Tim Merel (@DigiCapitalist) February 6, 2018
CEO at Perf-IT B.V.— René de Theije (@rdtheije) February 9, 2018
RealWear, Inc. , augmented reality, indoor GPS using bluetooth low energy beacons and DCIM-KPI-Worx. All subjects of our 2 weekly internal tech-meeting with our #Datacenter #DCIM development team. Technology makes the difference. https://t.co/CpvZbG99Y1