Series B Round allows RealWear to expand distribution
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RealWear Inc. announced an $80-million Series B financing round. RealWear will use the funds, which are a combination of equity and debt, to continue market expansion and accelerate its platform development. RealWear teamed with JPMorgan Chase & Co. to architect an investment syndicate led by Teradyne Inc. (TER), and includes Bose Ventures, Qualcomm Ventures LLC (QCOM), Kopin Corporation (KOPN), and investors from JPMorgan’s (JPM) Private Bank.
RealWear Co-Founder and CEO, Andy Lowery, said, “Our seed investments came from friends, family, early customers, suppliers and business partners. Their faith carried us to our Series A, led by Columbia Ventures Corporation. CVC’s experience in heavy industry, one of our primary markets, made it a perfect match.”
Lowery continued: “It was critical that RealWear’s new investors be business and technology leaders. Teradyne, Bose Ventures, Qualcomm Ventures and Kopin fit that bill.”
RealWear has focused on products that are specifically designed for the connected enterprise workforce to improve job satisfaction, productivity and safety. Its industrial hands-free wearable computers enhance, rather than diminish, a worker’s situational awareness while delivering vital information on-demand in the harshest of environments.
RealWear achievements in the last 18 months include over 15,000 HMT systems shipped, more than 1,300 enterprise customers globally, and over 120 workforce software applications.
