ODG has an announcement to raise a Series A round of 58 million dollars which is
led by 21st century fox. Many other investors are Shenzhen and Vanfund Urban
Investment and development. The company will use these funds to pace up its
existing production capabilities and will introduce its new product in January. This
funding round ensures that the company is well positioned to introduce its latest
designs which in future will form the largest category of smart glasses all over
the world. Moiels & company is the financial advisor of ODG and the company has
more than eighty employees which are doing their job to expand the company on
the top list.
Company plans to utilize the money to chase after the emerging reality market for
businesses and consumers and it has also been building reality glasses for military
for past many years. ODG chief operating officer Pete Jameson said’ it is clear to
us that to take advantage of the chance, we have decided to go for this decision
and bring in outside finance for the first time in history’. ODG is targeting a broad
utilization of industries for its computerized glasses with their photo realistic 3D
displays. The new navigation sensing technology offers its users the ability to
experience telepresence, tele repair and tele maintenance.
Osterhout design group(ODG) are building gadgets for US military since 1999 and
has managed to survive without outsider cash from investors but now the
company has changed its tune as it has announced outside investment. Since
eight years the company has designed and refined the smartglasses and has it in
wide market and the company has very carefully picked the partners who have
shared ODG product and growth strategy.