Meta raises $23 mln from Horizon, Draper, BOE, others

Meta said it raised $23 million in a Series A round led by Horizon Ventures, Tim Draper, BOE Optoelectronics and Y Combinator partners Garry Tan and Alexis Ohanian. Also participating in the deal were Danhua Capital, Commodore Partners and Zappos Founder Tony Hsiech’s  Vegas Tech Fund. Meta is developing augmented reality glasses.


Meta Secures $23M in Series A led by Horizons Ventures, Tim Draper and Y-Combinator partners

PORTOLA VALLEY, Calif.—January 28, 2015— Today Meta, the company to bring the first Augmented Reality computing wearable to market, announces the close of its $23 million Series A funding round. The round is led by Li Ka-Shing’s Horizons Ventures, Tim Draper, BOE Optoelectronics and Y-Combinator partners, Garry Tan and Alexis Ohanian. Other investors that participated in the round include Danhua Capital, Commodore Partners and Zappos Founder Tony Hsieh’ Vegas Tech Fund.

Meta glasses are the first holographic, see-through display that allow users to see, create and interact with digital objects shown in physical space. The company is envisioning a world that no longer isolates people with flat screens, but rather, brings them together and allows seamless interaction and collaboration between digital objects overlaid on the real world.

“We are humbled by the caliber of investors that have backed us and are helping us turn our dream into a reality. These are the very same people who first put their faith in Tesla and SpaceX and are now placing their confidence in our vision, and we couldn’t be more proud,” said Meron Gribetz, CEO of Meta.

Already, the company has shipped its first product, the Meta 1 Developer Kit after an incredibly successful Kickstarter campaign that ran in June 2013. Coupled with independent funding, they raised a total of $2 million by the end of the campaign. Now, over 1500 developers and companies such as the world’s largest architecture firm Arup, Salesforce and Stanford University based company, SimX are building augmented reality applications with Meta’s SDK.

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About Meta:

Meta is an augmented reality hardware and software company based in Portola Valley; led by Founder & CEO, Meron Gribetz, Chief Scientist Prof. Steve Mann (inventor of wearable computing), Lead Advisor Prof. Steve Feiner (pioneer of augmented reality) and Director of User Interface Jayse Hansen (Hollywoods #1 user interface designer, creator of UIs for Iron Man 1, 3, Avengers, Hunger Games).

Meta glasses are the first holographic, see-through display that allow users to see, create and interact with digital objects displayed in physical space. Meta’s SDK has attracted over a thousand development groups who are building gaming applications and professional applications in the areas of medical simulation, data visualization, architectural visualization and industrial design.