The recent funding will enable RealWear to expand its market and enhance its offerings for the connected workforce.
FREMONT, CA: RealWear, a developer of knowledge transfer and training platforms, recently closed $80 million Series B financing round, raising its total private funding to over $100 million. The funding, a combination of equity and debt, will enable the company to expand its market and enhance its platform development.
JPMorgan Chase & Co. facilitated the investment round led by Teradyne, Inc. (TER). It included Bose Ventures, Qualcomm Ventures LLC (QCOM), Kopin Corporation (KOPN), and investors from JPMorgan (JPM) Private Bank.
RealWear designs and develops products for the connected enterprise workforces, promoting job satisfaction, productivity, and safety. Its industrial hands-free wearable computers are designed to enhance the situational awareness of the workers and deliver on-demand information in harsh work conditions. Its robust platform has facilitated a safe and productive work environment through simplified, rapid ROI automation solutions. The company aims to leverage emerging technologies such as virtual reality (VR) and augmented reality (AR) to aid workers across various sectors.
The seed investments during the inception of RealWear came from its early customers, suppliers, and business partners. The company’s Series A funding was led by Columbia Ventures Corporation (CVC). The company’s experience in the heavy industry helped RealWear augment its offerings. The new investors, including Teradyne, Bose Ventures, Qualcomm Ventures, and Kopin, are also business and technology leaders.
HMT-1, the flagship product of RealWear , is a ruggedized, head-mounted, wearable, android-class tablet computer. The hands-free device allows the workers to use their hands for vital tasks. Its portfolio of hands-free software and hardware solutions have enabled enterprise customers to gain instant knowledge with a remote mentor, document navigation, industrial IoT visualization, and digital workflow solutions. Its HMT-1 and HMT-1Z1 are widely leveraged by energy, manufacturing, and automotive industry to empower and connect their global workforce.
Over 15,000 HMT systems, including 120+ workforce software solutions, have been delivered to more than 1,300 enterprise customers across the globe in the last 18 months. RealWear has witnessed strong growth over the last few years and is set to become a leading platform for connected workers all over the world. Its unique platform will significantly enhance the IoT ecosystem of industrial organizations.