AR/IoT startup RealWear snaps $17M in new funding

February 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.

HMT-1Z1

AR/IoT startup RealWear snaps $17M in new funding 4 image — 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.