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The company completed the second close in its Series D round claiming that it is currently valued at over $530 million. With the new investment, DigiLens is seeking to be the leading supplier of the next generation waveguide technology.
DigiLens, a provider of head-worn holographic display and waveguide technology, announced it received more than $50 million in a Series D funding round and is currently valued at over $530 million. It is the second close of its Series D investment round, with the first one being announced in November 2021 which as DigiLens claimed valued the company at $500 million.
The second close brought the participation of Corning, the developer and manufacturer of Gorilla Glass, who joined a list of investors in the round that includes Samsung Electronics, Optimas Capital Management, Diamond Edge Ventures, Alsop Louie Partners, 37 Interactive Entertainment, UDC Ventures, and Dolby Family Ventures.
With the new investment, DigiLens is seeking to be the leading supplier of the next generation waveguide technology which utilizes diffractive grating technology. According to the company, the technology will effectively broaden "the design space that dictates how the technology can be used for near-to-eye display". DigiLens also claims that its specific manufacturing process allows for more flexible optical designs that can suit a wide range of requirements as well as be more cost-effectively and efficiently compared to other waveguides.
"This series D round demonstrates our strong strategic foundation in the emerging XR sector. Our diverse set of partners from multiple different industries and backgrounds is taking another step to separate DigiLens from everyone else," commented DigiLens CEO Chris Pickett. "We’re working on projects today that use our industry leading volume Bragg grating technology that over the next year will be in the market in a material way. These advances will showcase that we’re the only solution that is going to work when efficiency, uniformity, and cost are considered."
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