Osterhout Design Group Raises $58 Million to Build Next Generation of Augmented Reality Glasses

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Osterhout Design Group has raised a $58 million Series A round. The capital hails from Shenzhen O-film Tech, Ltd., Vanfund Urban Investment & Development, strategic partner 21st Century Fox, as well as unnamed individual investors.

Since 2011 ODG has been building computerized glasses. With this new round of funding the company plans to develop the next generation of augmented reality glasses—a newer, better Google Glass.

“For eight years, we’ve taken a very systematic approach to designing and refining our smartglasses for specific applications from the US government, industry and enterprise customers in a wide variety of markets, and that will not change,” said Ralph Osterhout, CEO of ODG.

A product will be unveiled at CES 2017.

“People are realizing the potential for mass adoption of high-end mobile devices with the power to transform and simplify their lives,” Osterhout said.

San Francisco-based ODG, founded in 1999, has around 80 employees.

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