In Augmented Reality and Virtual Reality News
May 8, 2024 – Beijing-based XR tech startup OPTIX has this week announced that it has closed its oversubscribed Pre-A funding round led by Primavera Venture Partners. Existing investors Lanchi Ventures also participated, bringing the company’s total equity raise to USD $15 million.
What does OPTIX do?
OPTIX states that it develops cutting-edge optics technology and offers advanced solutions for the next generation of augmented and virtual reality (AR/VR) products. On the AR side, OPTIX focuses on AR waveguide technologies including Geometric Waveguide, SRG Waveguide, and VHG Waveguide. On the VR side, the company works on the in-house design and fabrication of VR pancake optics with 8K resolution and 115 degrees field-of-view (FoV).
“Optics plays a crucial role in XR hardware. The technology itself is very challenging because it needs to be highly integrated with other subsystems, at the same time, be manufacturable at mass production scale,” said Gary Yan, Founder and CEO of OPTIX. “Our goal is to provide the ultimate optical experience, and to create outstanding AR and VR products in collaboration with world-leading customers and industry partners.”
OPTIX stated that it released its VR pancake optical module, which has a binocular resolution of 8K and a field-of-view of 115 degrees, in 2023, shortly after Apple announced its Vision Pro headset. For comparison, Apple Vision Pro has a horizontal FoV of around 100 degrees, and the Meta Quest 3 has a horizontal FoV of 110 degrees.
How will OPTIX use the funding?
The new funding comes on the heels of a rapid growth year for OPTIX. To date, the company has established its own laboratory and manufacturing process, and has been simultaneously focusing on key optics technologies for both AR and VR.
OPTIX stated that its next goal will be to integrate gaze tracking and foveated rendering into its pancake module, as well as PB lens technology. The company also noted that it will be launching an AR waveguide module in Q3 2024.
Who are Primavera Venture Partners?
Primavera Venture Partners’ portfolio includes companies from across the AI, robotics, biotechnology, BCI, medical, Web3 and energy sectors. A spokesperson from Primavera Venture Partners said: “The VR and AR market holds immense potential in the long term. The continuous strategic development of VR and AR by global technology leaders has not only marked a significant turning point for the industry, but it has also shown us the vast possibilities of VR and AR in transforming our daily lives.
“The breakthrough of products hinges upon the advancement of core optical module technology. OPTIX, backed by its full-stack team in optical module design and process and its solid understanding of technology, has independently developed its unique technical advantage and specialization… We look forward to seeing OPTIX leveraging its capabilities in terminal design and supply chain technology to better support the industry in overcoming bottlenecks in optical solutions.”
The investment is OPTIX’s third funding round in less than two years since the company was established in August 2022. Its angel investment round was led by Lanchi Ventures with participation from Vlight Capital.
For more information on OPTIX and its optics technology for augmented and virtual reality products, please visit the company’s website.
Image credit: OPTIX
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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.