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Osterhout Design Group Raises $58m for VR/AR Smartglasses

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smartglasses from osterhout design group

Osterhout Design Group (ODG) has raised $58 million to fund production of its new virtual and augmented reality smartglasses.

In an announcement, Ralph Osterhout, CEO of ODG, said, “People are realizing the potential for mass adoption of high-end mobile devices with the power to transform and simplify their lives.  This funding round, our first ever, ensures we are well positioned to introduce our latest designs at CES ‘17, which will likely form the largest category of smartglasses worldwide.”

Investors include 21st Century Fox – also a strategic partner – as well as Shenzhen O-film Tech Co., Vanfund Urban Investment & Development Co.

Image: Osterhout Design Group

http://www.hollywoodreporter.com/behind-screen/virtual-augmented-reality-firm-osterhout-design-group-raises-58-million-951873

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Rachel Reed

Rachel Read

Rachel is Finance Director. She has a degree in engineering from Cambridge University and qualified as a Chartered Accountant at Deloittes in London. She worked in finance in industry for twenty years. She oversees our news and also manages our events.

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