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eMagin Attracts US$10 Million Investment from Apple, LG, and Valve

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Published on : Feb 12, 2018

eMagin, an OLED microdisplays maker, has been receiving some attention from tech behemoths Apple and LG as they plan big for augmented (AR) and virtual reality (VR). As per documents filed with the U.S. Securities and Exchange Commission, eMagin will be receiving a US$10 million investment from Valve, LG, and Apple. In its filing, eMagin mentioned that it has made strategic agreements with several consumer product firms belonging to tier one for the purpose of developing and designing microdisplays used for consumer head-mounted devices. Furthermore, the filing said that eMagin has negotiated with mass production manufacturers together with these firms for higher volume production capabilities.

Investment Underscores Tech Community’s Commitment to VR

Having a 2,048 by 2,048 pixel resolution, there is a 2K display produced by eMagin that marks as its flagship product. The display also boasts of a 70% fill factor, which denotes each pixel’s percentage that could be engaged to gather light. As per the filing, a new stock issuance as a form of the investment had been expected to see completion before the closure of January. This investment has underlined the commitment of the tech community toward VR, which gives its word of transporting goggle-wearing users to a computer-generated 3D environment. On the other hand, AR uses special headsets to overlay digital images on the real world.

In January, Apple upped its AR game after the release of the ARKit 1.5 software to developers. This software has been expected to pack new features such as the ability to place items on doors and vertical walls besides tables and other horizontal surfaces.