Vuzix Corp., the supplier of smart glasses and Augmented Reality (AR) technologies, mailed a letter to its shareholders that brought investors up to date on recent news including the investment round (Vuzix Raises $12.5 Million) and the deal to supply a product exclusively to Toshiba and with a minimum purchase order of $5 million (Vuzix Signs Exclusive Supply Agreement with Toshiba).
CEO, Paul Travers, said in the letter that the company now is working on 350 pilot programmes with partners and proof of concepts. Other projects include the completion of a global pilot project on the use of AR in picking by DHL (which is also working with Google – Oculus Launches Business Rift) and projects with John Deere and WS Kunststoff-Service (electrical component assembly). The company is working with CyberTimez on the Wounded Warrior project to help US veterans with low-vision and blindness. (Vuzix Claims Smart Glasses Can Deliver “Vastly Enhanced” Vision)
The company is also looking forward to additional OEM deals.
Analyst Comment
We’ll be catching up with Vuzix at CES.
