BELLEVUE, Wash., May 23, 2019 /PRNewswire/ -- Innovega Inc. ("Innovega" or "Company"), a company developing stylish and lightweight wearable displays that feature a high-resolution, panoramic field of view for virtual and augmented reality, today announced the successful closing of its first phase in a convertible note bridge financing campaign conducted by SeedInvest Inc., a New York-based crowdfunding firm. The campaign yielded over $1 million from 42 accredited investors who will join existing shareholders to spread the news of Innovega's accomplishments.
"This initial phase of investment provides the capital needed to deliver on near-term milestones," said Mr. Steve Willey, Co-Founder and Chief Executive Officer of Innovega Inc. "This process of funding growth in managed increments reflects our philosophy of capital efficiency that will provide Innovega with the opportunity to secure a place as a key contributor to the expansion of augmented, mixed and virtual reality markets. Innovega's fashionable glasses and eye-borne optics offer essential solutions to what is estimated to become a $3.4 billion wearable display sector."
The Company's current operations are focused on system demonstrations, conducting independent wearer trials, patent portfolio expansion, commercial supply chain development and strategic partnering.
About Innovega Inc.
Innovega has developed a new generation of contact lenses that enables the Company's strategic partners to deliver unprecedented display performance from lightweight and stylish glasses. Its eMacula™ system of stylish glasses and smart contact lenses provides the user with a discreet, high-performance display experience that goes beyond any available system. Innovega was founded by prominent inventor and optometrist Jerome A. Legerton and former President of Nasdaq-listed MicroVision, Inc. Stephen Willey.
eMaculaTM – Enhanced Retina Technologies
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SOURCE Innovega Inc.