Intel has invested $24.8m in publicly-listed video eyewear and smart glasses developer Vuzix.
US-based video eyewear and smart glasses developer Vuzix raised $24.8m in funding on Friday from semiconductor technology producer Intel.
Intel purchased series A preferred stock in the Nasdaq-listed company. The 49,626 shares are convertible into 4,962,600 common shares at $5 each, and the preferred stock represents roughly 30% of Vuzix’s outstanding shares.
Vuzix develops optical technology that can be fitted into glasses. It will use Intel’s investment to introduce its products into the consumer market.
