© firaxissmooke dreamstime.com General | May 14, 2019
DigiLens ends Series C with investments from UDC, Samsung Ventures
DigiLens Inc. has closed an oversubscribed USD 50 million Series C preferred equity investment round.
The new investments will enable DigiLens to broaden its development and innovation in high-quality, holographic waveguide displays for global automobile, enterprise, consumer, avionics and military brands. New strategic investment partners UDC Ventures (the corporate venture arm of Universal Display Corporation) and Samsung Ventures join in the round with Niantic Inc., Continental AG, Sony Innovation Fund, Diamond Edge Ventures, the strategic investment arm of Mitsubishi Chemical Holdings Corporation, and others. “UDC Ventures and Samsung Ventures have recognized through this investment that DigiLens is the frontrunner in waveguide technology and the only waveguide that can get to a consumer price point through its proprietary photopolymer, design software, and innovative manufacturing process,” said Chris Pickett, DigiLens CEO. “These partnerships provide the ecosystem that enables our technology to go into a variety of different display markets in a variety of different form factors.” Display manufacturer Young Optics was among the first to license DigiLens technology and recently began shipping products based on the DigiLens Crystal 25 reference design for AR smart glasses. “We are excited to partner with DigiLens as they continue to focus on enabling a number of high growth markets with their patented holographic waveguide displays,” said Steven V. Abramson, President and CEO of Universal Display Corporation. “With parallels to our own business, we look forward to working together to bring best-in-class solutions to multiple industries and to collaborate on the future of OLED technology within the augmented and virtual reality display sector.” As part of the investment, Mr. Abramson will become a board observer and advisor to provide strategic guidance on product development and building OEM relationships.