Israeli augmented reality firm Lumus raises another $30 million

TEL AVIV (Reuters) - Lumus, a developer of technology for augmented reality, said on Monday it has completed a $45 million funding round with an additional $30 million from investors including Taiwan’s Quanta Computer and consumer electronics firm HTC.

Lumus said it will use the new financing to expand development and marketing of its transparent, wearable display technology for the augmented reality and smart eyewear industry.

In June Israel-based Lumus said it received $15 million of funding led by Chinese investment group Shanda along with Zhejiang Crystal-Optech Co, a Chinese photo-electric component manufacturer.

The augmented reality market is predicted to grow to $90 billion by 2020, according to technology consultancy firm Digi-Capital.

Consumer electronics and smart-eyewear manufacturers use Lumus for the optical technology in their see-through wearable displays. Lumus’ technology consists of an eyeglass lens that contains an array of ultra-thin transparent reflectors and a mini-projector that injects an image into the lens.

Reporting by Tova Cohen