In Augmented Reality and Virtual Reality News
January 3, 2024 – Myrias Optics, Inc., a developer of optics for use across augmented/virtual reality (AR/VR), consumer electronics and defense applications, has recently announced that it has secured a USD $3 million seed investment led by Asia Optical Inc.
The company stated that it will use the funding to meet growing customer demand and interest in structure, materials and process technology platform. The investment round also included participation from UMass Amherst, Tenon Ventures and HOSS Investment Inc.
Built on research developed by the Watkins Group at the University of Massachusetts Amherst, Myrias is an emerging developer of all-inorganic printed meta-optics, with an aim of enabling the next generation of meta-optics for AR, VR, consumer electronics, machine vision, advanced robotics, automotive light detection and ranging, defense and aerospace. The company, founded by UMass faculty member James Watkins, noted that it has plans to manufacture optics in Western Massachusetts and hire a substantial workforce.
“We are very excited to already have multiple Tier 1 customers engaging in AR/VR and consumer electronics applications where Myrias IP and expertise provide unrivaled cost, performance and lifetime advantages over existing etched or printed polymer-based processes,” said Myrias CEO Patrick Tan. “Going forward, we are particularly excited to work with Asia Optical to develop and deploy a new class of optics that enables products that are compact, lighter and easier to assemble at significantly lower costs.”
Also commenting on the investment, Asia Optical Chairman, Robert Lai said: “Our investment and partnership with Myrias is aimed at advancing the development of meta-optics for high-performance optical modules and products. By integrating multiple functions into a single meta-optic layer, we anticipate creating systems with fewer components making it much easier to make. Asia Optical looks forward to developing and extending our optical product offerings across all the industries we serve.”
Myrias added that development and adoption of the optical technologies developed by the Watkins Group is poised to accelerate substantially in Massachusetts thanks to a USD $5 million award from the Massachusetts Technology Collaborative that was announced in October 2023.
The grant will enable UMass Amherst to establish an open-access Advanced Optics Fabrication and Characterization Facility on its campus, a unique resource available to industry partners such as Myrias and researchers across the state.
For more information on Myrias Optics and its meta-optics for deployment across AR/VR solutions, please visit the company’s website.
Image credit: Myrias Optics
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About the author
Sam is the Founder and Managing Editor of Auganix. With a background in research and report writing, he has been covering XR industry news for the past seven years.