ODG raises 58 million dollars for the growth of reality business

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.

Future plans

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.

About ODG

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.

Source: www.businessinsider.in

ODG raises 58 million dollars for the growth of reality business
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