DigiLens Secures Investment from UDC Ventures and Samsung Ventures for Holographic AR Displays
Strategic Partnerships with Leaders in Display Technology will Result in Broader Market
Opportunities for DigiLens’ Patented Technology
Sunnyvale, CA — May 14, 2019: DigiLens Inc., an innovator in holographic waveguide technology for augmented reality (AR) devices, announced today the closing of an oversubscribed $50 million Series C preferred equity investment round. New strategic investment partners UDC Ventures, the corporate venture arm of Universal Display Corporation and Samsung Venture Investment Corp (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. 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.
“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.”
DigiLens is the leader in patented holographic waveguide displays and provides key proprietary photopolymers and core technologies for transparent, augmented reality (AR) displays for several global industries. Through investments and strategic partnerships, the company is building a world-class ecosystem of manufacturers, OEMs, and content providers to bring its waveguide technology to multiple markets simultaneously.
Young Optics, a leading display manufacturer, was one of 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.
About UDC Ventures
UDC Ventures was launched in 2019 as the corporate venture arm of Universal Display Corporation (Nasdaq: OLED). UDC Ventures seeks to be an impactful strategic investor and to partner with entrepreneurs, disruptive start-ups and innovative, emerging companies in fields related to our strategic focus areas. UDC Ventures is focused on investing in trends that can impact the technology landscape similar to how OLED technology has impacted the broader display market. Importantly, UDC Ventures provides the opportunity to partner with Universal Display Corporation and its platform of global experts in the fields of IP licensing, materials development and manufacturing and its broad relationships with technology leaders. To learn more about UDC Ventures, please visit https://udcventures.com/.
Universal Display Corporation, UDC Ventures and the Universal Display Corporation logo are trademarks or registered trademarks of Universal Display Corporation. All other company, brand or product names may be trademarks or registered trademarks.
About Samsung Venture Investment Corporation
Samsung Venture Investment Corporation manages investment and investment-related activities for Samsung affiliate companies. The investment mandate for Samsung Venture Investment Corporation tracks closely to the strategic priorities of Samsung affiliate companies’ core operating divisions, and encompasses investments in semiconductors, displays, telecommunications, and consumer electronics.
About DigiLens Inc.
DigiLens is a leader in holographic waveguides used for XR displays. The company has developed a patented optical platform and photopolymer technology that deliver best-in-class solutions using a unique, low-cost contact-copy manufacturing process. DigiLens enables OEM partners to design and build XR-enabled devices for the global automobile, enterprise, consumer, avionics, and defense industries. Based in Sunnyvale, CA, DigiLens’ investors include industry leaders like Samsung Electronics, Samsung Electro-Mechanics, Diamond Edge Ventures, the strategic investment arm of Mitsubishi Chemical Holdings Corporation, Alsop Louie Partners, Optimas Capital Management, 37 Interactive Entertainment, UDC Ventures, the corporate venture arm of Universal Display Corporation, Niantic, Inc., Sony Innovation Fund, Dolby Family Ventures, Continental AG, and more.