Luxexcel Receives €4 Million Equity Investment to Accelerate AR/VR Eyewear Program

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EINDHOVEN, Netherlands—Luxexcel, based here, has received an equity investment of €4 million ($4.7 million) from Innovation Industries, a Netherlands-based venture capital fund. Luxexcel said the investment will enable it to accelerate the next-gen development of its 3D printing platform for prescription lenses for use in augmented reality (AR) and virtual reality (VR) applications.

The additional €4 million ($4.7 million) investment will be used for rapid expansion of the Luxexcel platform-functionality through dedicated co-development programs and partnerships in the AR and VR categories. AR and VR applications include smart glasses that provide the user with real time information for professional and personal use, gaming applications including control consoles for drones, sensors and cameras integrated in eyewear.

“AR/VR applications have become a hot topic in the industry,” said Hans Streng, chief executive officer of Luxexcel. “We add the ability to 3D-print ophthalmic-quality prescription lenses to these applications. This enables the AR/VR headset manufacturers to offer fully personalized smart eyewear in an attractive frame design. The ability of our platform to 3D-print ophthalmic lenses in any shape or form and the possibility to embed new functionalities in the lens triggers entirely new dimensions in terms of user-experience and business opportunity.”

Nard Sintenie, founding partner at Innovation Industries BV, remarked, “We believe that with the technology of Luxexcel it will be possible to combine AR/VR applications with Rx eye correction, which is an essential component in bringing smart eyewear to the mainstream market. We are excited about leveraging the high tech network in the Netherlands to enable this unique breakthrough.”

Recently, Luxexcel announced a €8.5 million ($10 million) investment for its core activities in the ophthalmic industry. The first industrial grade 3D printing platforms for ophthalmic lenses are being installed this year in the U.S. and Europe.