Sunnyvale, CA — May 14, 2019: DigiLens Inc., an innovator in holographic waveguide technology for augmented reality (AR) devices, announced today the closing of an oversubscribed $50 million Series C preferred equity investment round. New strategic investment partners UDC Ventures, the corporate venture arm of Universal Display Corporation and Samsung Venture Investment Corp (Samsung Ventures) join in the round with Niantic, Inc., Continental AG, Sony Innovation Fund, Diamond Edge Ventures, the strategic investment arm of Mitsubishi Chemical Holdings Corporation and others. The new investments will enable DigiLens to broaden its development and innovation in high quality, holographic waveguide displays for global automobile, enterprise, consumer, avionics and military brands.

“UDC Ventures and Samsung Ventures have recognized through this investment that DigiLens is the frontrunner in waveguide technology and the only waveguide that can get to a consumer price point through its proprietary photopolymer, design software, and innovative manufacturing process,” said Chris Pickett, DigiLens CEO. “These partnerships provide the ecosystem that enables our technology to go into a variety of different display markets in a variety of different form factors.”

DigiLens is the leader in patented holographic waveguide displays and provides key proprietary photopolymers and core technologies for transparent, augmented reality (AR) displays for several global industries. Through investments and strategic partnerships, the company is building a world-class ecosystem of manufacturers, OEMs, and content providers to bring its waveguide technology to multiple markets simultaneously.

Young Optics, a leading display manufacturer, was one of the first to license DigiLens technology and recently began shipping products based on the DigiLens Crystal 25 reference design for AR smart glasses.

“We are excited to partner with DigiLens as they continue to focus on enabling a number of high growth markets with their patented holographic waveguide displays,” said Steven V. Abramson, President and CEO of Universal Display Corporation. “With parallels to our own business, we look forward to working together to bring best-in-class solutions to multiple industries and to collaborate on the future of OLED technology within the augmented and virtual reality display sector.”

As part of the investment, Mr. Abramson will become a board observer and advisor to provide strategic guidance on product development and building OEM relationships.