Recon Instruments, a Vancouver-based company that has developed Heads-up Display (HUD) technology for sports and activity-specific environments, has obtained a “significant” undisclosed investment by U.S. venture capital firm Intel Capital. The new funds will support the company’s product development, marketing and global sales expansion. Founded in 2008, Recon in 2011 raised $10 million in Series A financing from an investor group led by Canadian venture capital firm Vanedge Capital with participation from Kopin Corp.
Recon Instruments Secures Investment from Intel Capital
Relationship Accelerates Heads-up Display Maker’s Trajectory in Wearable Computing
26th September 2013, Vancouver – Recon Instruments, the award winning technology company behind the world’s first consumer Heads-up Displays (HUD) for sports, is pleased to announce that Intel Capital has made a significant investment in the company. The funding will support Recon’s product development, marketing and global sales expansion. Recon Instruments will also benefit from Intel Capital’s expertise in manufacturing, operations and technology.
Complete information regarding Recon Instruments and its newest product, the Recon Jet, can be found at www.reconinstruments.com.
“Wearable computing is a major, accelerating phenomenon that re-defines how we use and interact with information,” said Mike Bell, Vice President and General Manager of the New Devices Group at Intel Corporation. “In Recon Instruments, we see compelling technology and a solid strategy to capitalize on the wearable revolution. This is an area of significant focus for Intel Capital, and our investment in Recon Instruments is a key part of our approach to innovation in this emerging space.”
Dan Eisenhardt, CEO of Recon Instruments said: “We have spent the last five years leading the Heads-Up Display category in the consumer space. In fact, Recon has shipped more than 50,000 Heads-up Displays worldwide, including a very successful campaign in Apple retail stores. Our products are engineered to deliver instant information, direct-to-eye and without distraction in the most demanding environments on Earth. Intel Capital shares our vision for wearable technology, which enhances users’ performance and experience across a broad range of sports and outdoor activities.”
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About Recon Instruments
Recon Instruments is a world leader in Heads-up Display (HUD) technology for sports and activity-specific environments. Founded in 2008, Recon’s award winning multi-patent and patent-pending technology platform integrates a Heads-up Display with a state-of-the-art
micro-computer and sensor suite. Recon’s HUDs run an operating system with an open SDK to empower developers to create apps for an endless variety of sports, social and contextual cases. With worldwide distribution and partnerships with leading technology and
optics companies, Recon continues to define and evolve the HUD category.
For more information, visit www.reconinstruments.com
About Intel Capital
Intel Capital, Intel’s global investment and M&A organization, makes equity investments in innovative technology start-ups and Companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software, and services targeting enterprise, mobility, health, consumer Internet, digital media and semiconductor manufacturing. Since 1991, Intel Capital has invested more than US$10.9 billion in over 1,294 companies in 54 countries. In that timeframe, 202 portfolio companies have gone public on various exchanges around the world and 324 were acquired or participated in a merger. In 2012, Intel Capital invested US$352 million in 150 investments with approximately 57 percent of funds invested outside North America. For more information on Intel Capital and its differentiated advantages, visit www.intelcapital.com or follow @IntelCapital.
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