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Avegant, the AR display company known for its Glyph head-mounted display, announced that the company has successfully closed a $12M Series AA financing, which will allow them to further develop their light field technologies and “high resolution, low latency, and high brightness” retinal displays.

While well-known for its Glyph head-mounted display (now called ‘Avegant Video Headset’), the company has also demoed a prototype AR headset using its display technologies, which are said to target the consumer market.

“The consumer AR industry faces significant challenges developing displays that are high resolution, small form factor, large field-of-view, light field, and low power. The industry is excited about our unique solutions to these technical challenges, which will enable previously impossible AR experiences,” said Avegant CEO Ed Tang in a statement.

Dr. Om Nalamasu, President of Applied Ventures and Chief Technology Officer of Applied Materials, said their company will be working with Avegant to accelerate the development of Avegant’s light field technology and “to create compelling AR applications.”

New investors include Walden SKT Venture Fund and China Walden Venture Investments III, L.P., with the company’s total funding amounting to $62.4M.