Startup raises funds to accelerate development of AR glasses displays

Cellid has announced that it has raised a total of USD 13 million (JPY 2 billion) through a private placement with the Development Bank of Japan as the lead investor to advance its core business of developing displays for AR glasses and spatial recognition engines.

Last November, Cellid released a “Reference Design” (verification model) for eyeglass-type AR glasses that employs the optical see-through waveguide display method. The company used its in-house developed waveguide and micro projector in the reference design. The waveguide uses a state-of-the-art, optical, see-through display method DOE to enable the widest field of view and lightest weight available. The reference design is no different from ordinary glasses and weighs approximately 58g. Compared to conventional head-mounted display-type glasses, the new glasses reduce eye fatigue even after long hours of daily use. Further, the waveguide (display lens for AR glasses) used in the reference design achieves vivid full-color expression while remaining as thin and light as ordinary spectacle lenses.

The reference design also includes the provision of an SDK to support the development of AR glasses applications linked to generative AI and object recognition functions. In conjunction with the launch of reference design, the business development partner and OEM partner programs will be launched to recruit partners aiming to promote digital transformation and create new businesses using AR glasses, as well as companies aiming to develop AR glasses as their own brand.

This financing will enable Cellid to strengthen the lineup of products and reference designs that are key components of AR glasses, such as micro projectors and waveguides, and promote the development of business areas that make use of reference designs. Cellid will also accelerate the market launch of their products by strengthening their mass production system.

The financing round also included a third-party allotment of new shares to funds managed by More Management Co., Ltd., as well as the CVC fund jointly established by Kyocera Corporation and Global Brain Corporation, 15th Rock, Inc., and FFG Venture Business Partners Co., Ltd. This latest financing brings the total funding raised to date to approximately USD 33 million (JPY 5.2 billion).