Apple joins LG and Valve investing up to $10.6M in OLED display maker eMagin

TechCrunch | 2/12/2018 | Ingrid Lunden
nallynally (Posted by) Level 4
Click For Photo: https://tctechcrunch2011.files.wordpress.com/2018/02/emagin-blaze.png

Quietly, Apple has been bringing together a number of moving parts in its strategy around virtual and augmented reality hardware; and now one more element of that has come to light. eMagin, a maker of OLED miniature displays, says that Apple, along with LG, Valve, VR entertainment maker Immerex (which now appears to be operating publicly as Luci), and Stillwater Holdings, are collectively investing up to $10.6 million in the company.

eMagin has only said that it plans to use the proceeds for “working capital and general corporate purposes”. The company has been increasingly doing more in displays targeting the consumer market (such as its Blaze night-vision goggles and smartphone case, goggles pictured above) in addition to the military and industrial/enterprise (including medical) sectors where eMagin’s technology is already used.

Growth - Area - Consumer - OEM - Market

“We believe that a key growth area for us is the consumer electronic OEM market for augmented reality (AR) and virtual reality (VR) hardware,” eMagin notes in its prospectus. “Our potential channels to this market include licensing of our direct patterning technology and partnering for the mass production of microdisplays.”

The documentation for the new offering was filed January 23 of this year (first discovered, it looks like, by Road to VR, which also tipped us off on it). Further to that, eMagin released another statement saying the offering had been upsized to $11.5 million (with eMagin getting $10.6 million in proceeds), and it also said that it expected the offering to close around January 29, meaning the investment has likely been completed already.

Amount - Company - Intention - Investment

We have reached out to eMagin to confirm this, as well as the final amount raised, and if the company can tell us more about the intention for the investment.

“We believe that our direct patterning technology is a key differentiator for enabling next generation AR/VR hardware for the consumer and...
(Excerpt) Read more at: TechCrunch
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