Vuzix is set to receive a $20 million investment in three tranches from Quanta Computer, one of the world’s largest ODMs. This investment will support the expansion of Vuzix’ waveguide production capabilities and the joint development of new AR/AI smart glasses technologies.
Quanta’s investment commitment includes $10 million in Vuzix common stock for the first tranche, with the second and third tranches of $5 million each tied to specific milestones and consisting of the purchase of Vuzix Series B Preferred Stock.
“We plan to work closely with Vuzix to support the AR smart glasses industry, and today’s investment represents a strong endorsement of our partnership,” said Frank Chuang, Vice President of Quanta Computer.
Paul Travers, President and CEO of Vuzix, expressed excitement about the strengthened partnership with Quanta, stating that the investment will significantly enhance their production capabilities and co-development efforts. The collaboration is expected to generate significant revenue for Vuzix in the coming years.
For more information about Quanta Computer and Vuzix Corporation, visit their respective websites.