Industrial AR computing startup RealWear raises $80 Million Series B to continue market expansion and accelerate its platform development

RealWear, the maker of hands-free ruggedized head-mounted wearable computers for the connected worker, announced today an $80 million Series B financing round to continue market expansion and accelerate its platform development. RealWear teamed with JPMorgan Chase & Co. to architect an investment syndicate led by Teradyne, Inc. (TER), a global leader in industrial automation, and includes Bose Ventures, Qualcomm Ventures LLC (QCOM), Kopin Corporation (KOPN), and investors from JPMorgan’s (JPM) Private Bank.

In the last 18 months alone, RealWear has shipped over 15,000+ HMT systems. The company also has over 1,300 enterprise customers globally and over 120 workforce software applications.

Founded in 2016 by Andy Lowery, Brian Hamilton, Chris Parkinson, Kenneth Lustig, and Sanjay Jhawar, RealWear is a knowledge transfer company that provides in-situ information and in-the-field training to help people improve safety and increase productivity at work. Its flagship product is the HMT-1, the first ruggedized head-mounted wearable Android-class tablet computer that frees a worker’s hands for dangerous jobs. The hands-free monocular HMT-1 is purpose-built for Connected Worker programs in the industrial enterprise and is safely controlled with just your voice, even in extremely noisy environments.

“The augmented reality enterprise market has experienced a great deal of hype, but long-term, real-world solutions have been thin on the ground,” said Tom Mainelli, IDC Group VP of Devices and AR/VR. “RealWear smartly recognized the need for a no-nonsense head-mounted display and has delivered no-frills products that help frontline workers to get their jobs done more safely and efficiently.”

With a growing number of hands-free partner solutions, our customers are taking full advantage of the unlimited power of the HMT-1 for remote mentor, document navigation, industrial IoT visualization and digital workflow solutions. Global leaders in energy, manufacturing and automotive industries trust the HMT-1 to empower and connect their global workforce.

RealWear Cofounder and CEO, Andy Lowery, said RealWear used this same pragmatic philosophy in its fund-raising strategy. “Our seed investments came from friends, family, early customers, suppliers and business partners. Their faith carried us to our Series A, led by Columbia Ventures Corporation. CVC’s experience in heavy industry, one of our primary markets, made it a perfect match.”

Lowery continued: “It was critical that RealWear’s new investors be business and technology leaders. Teradyne, Bose Ventures, Qualcomm Ventures and Kopin fit that bill.”

“RealWear has created a powerful platform that aligns with our vision for a safer, more productive work environment powered by easy to use, rapid ROI automation solutions,” said Mark Jagiela, Teradyne CEO and President. “RealWear’s strategy to leverage the power of advanced technologies like Augmented Reality to assist workers across a wide range of tasks has many parallels with Teradyne’s industrial automation strategy and we look forward to helping RealWear continue their exciting growth.”

“Qualcomm Ventures invests in companies that drive innovation and impact across industries. RealWear has experienced strong growth and is well positioned to become a leading platform for connected workers everywhere,” said Richard Tapalaga, Director, Qualcomm Technologies, Inc. and Investment Director, Qualcomm Ventures. “We are excited to invest in RealWear as we believe its unique platform will help drive value to the entire IoT ecosystem.”