Intel is betting $25 million on smart eyewear-maker Vuzix
Intel clearly sees big potential in the smart eyewear market. In addition to putting its processors in Google Glass and teaming up with Luxottica to create high-tech glasses, it has now invested major cash in internet-connected eyewear-maker Vuzix. According to Vuzix, Intel has just bought $24.8 million of its stocks making up 30 percent of the company. The chipmaker hasn’t replied to our request for a statement yet, but the companies’ press release says Intel will have “the right to vote with the holders of Common Stock on an as-converted basis, and has the right to appoint two members to Vuzix’ Board of Directors, in addition to the Company’s current five members. “
If you recall, Vuzix is the creator of the M100 smart glass showcased at the 2013 Consumer Electronics Show. Since that time, the device has gone through a number of upgrades, including the addition of offline support for its Nuance voice control feature and the ability to use the Android-powered gear with iOS devices. In January 2013, the company announced that it’s developing smart sunglasses you’d actually want to wear — a project that could benefit greatly from Intel’s investment.
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