Crystal Optoelectronics 5 million US dollars to share the Israeli AR glasses developer Lumus
On the evening of November 15, Crystal Optoelectronics announced that the company intends to acquire 100,000 shares of Lumus common stock held by Mr. Yaakov Amitai, a natural person shareholder of Lumus Co., Ltd., with its own funds of USD 2.2 million, and subscribe for Lumus New with its own funds of USD 5 million. It issued 93,353 shares of Class C preferred shares, and intends to convert the Lumus unsecured convertible bonds held by the company's wholly-owned subsidiary Crystal Optoelectronics Technology (Hong Kong) Co., Ltd. into US$67,362 shares of Class C preferred shares.
In fact, the two companies have already had an intersection. On June 18, Lumus announced that it had received $15 million in Series B financing, mainly China Optical Imaging Corporation Crystal Optoelectronics and Shanda Group. Founded in 2000, Lumus is a transmissive smart eyewear supplier based in Israel and one of the world's strongest AR companies. One of the main reasons why Lumus leads the fluoroscopy optical display is its patented waveguide optics. That is, the technique of projecting a picture onto a special transparent screen can be used for various headlights such as smart glasses. Crystal Optoelectronics has been developing micro-investment technology since 2008, and has DLP and LCOS technologies to enable a variety of AR solutions. The strategic equity subscription agreement with Lumus will help the company's smart glasses business to move from a component supplier to a solution provider.
The AR and MR markets are expected to expand rapidly in the next few years, and market research firm MarketsandMarkets predicts that the AR market will reach $80 billion by 2022.
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