Intel is the latest company to enter the fray with technology for smartglasses after the chip-maker made a US$24.8m investment in Vuzix, a supplier of video eyewear and smartglasses.
Announcing the deal, Vuzix has said that with this investment, Intel’s ownership of the company through stock now stands at approximately 30pc and Vuzix already has plans to pump the new funds into developing their next range of wearable tech.
Compared with the leaders in the market of smartglasses, Google Glass, Vuzix is aiming to create its own range of smartglasses that will be catered more towards specific industry or sector needs including customer relations staff, doctors, stockroom employees and, of course, for the gaming industry.
Intel has found itself in the position of catch-up among the other major tech companies with regard to wearable tech, but the company can now rest their hopes on Vuzix who with this new injection of funding will hope it will be enough to push its range of smaller glasses for workers.
No doubt the small New York-based company welcomed Intel with open arms as, according to ZDNet, the company had been struggling financially with their most recent Q3 earnings report showing the company had made a total loss of US$3.3m and at the time was actively searching for outside investment.