REDWOOD CITY — Meta, a company developing technology in Augmented Reality (AR), announced the closing of $50 million in a Series B round of funding. The round includes significant participation by Horizons Ventures Limited, Lenovo, Tencent, Banyan Capital, Comcast Ventures, and GQY.
Called one of the most significant technologies in recent years, Meta 2 was unveiled to a standing ovation at TED 2016 in February. Meta is delivering a new “natural machine” that builds on the principles of neuroscience to create a completely intuitive experience that transforms how people work, play, communicate and engage with each other.
Meron Gribetz, CEO of Meta, said, “It is incredibly gratifying to have the support of big thinkers and investors who understand the importance of creating a new human-computer interface, anchored in science. Our friends at Tencent, Lenovo, Horizons Ventures, Comcast Ventures and all the other investors really get what we’re doing and why Meta is different from the other players in AR. They understand that the combination of our advanced optical engines along with our neuroscience-based interface design approach are what will create a computing experience that is 100x easier to use and more powerful than traditional form factors.”
Meta plans to use funds raised in the Series B round for building upon its hardware and software technology base, business expansion, including app development, and developing the next generation of its technology, Meta 3.