Cellid Inc., a developer of AR glasses displays and spatial recognition engines for next-generation devices, raised a total of $13 million (JPY 2 billion) through a private placement.
The private placement was led by Development Bank of Japan Inc., with participation from funds managed or involved in the management of More Management Co., KVIF-I Limited Partnership, 15th Rock Inc., and FFG Venture Business Partners Co.
The latest financing brings Cellid’s total funding raised to date to roughly $33 million (JPY 5.2 billion).
Cellid CEO Satoshi Shiraga said: “We are honored that the Development Bank of Japan Inc. and other financial investors and partners have recognized Cellid’s business, which is centered on the development of displays for AR glasses and spatial recognition engines, as well as our growth potential. As AR glasses are increasingly attracting attention as a more accessible next-generation device, we are pursuing their evolution through the development of key components for AR glasses, such as waveguides and micro projectors.”
“With this financing, we aim to accelerate the market launch of our products and contribute to the further adoption of AR glasses by acquiring top talent in Japan and abroad, while strengthening our technological development capabilities and expanding our mass production system,” added Satoshi Shiraga.