Recon Instruments said it raised $10 million from Vanedege Capital and Kopin Inc. The company recently launched an Android-powered MOD Live near-eye device that provides skiers and riders with a variety of data, including speed, navigation, jump analytics, buddy tracking and text messages.
Recon Instruments Raises $10 Million Series A Financing
Recon Instruments sophomore release, MOD Live named CES 2012 Innovation Award Honoree
VANCOUVER, British Columbia – January 17, 2011 – Recon Instruments, award winning innovator of Micro Optics Display (MOD) technology for outdoor sport enthusiasts, announced it has secured a$10 million Series A investment from a group led by the venture capital firm Vanedge Capital, with participation from Kopin Corporation, for the purpose of further commercializing its proprietary technology. Building on Recon’s recent success of the Android-powered MOD Live near eye product that provides skiers and riders with a variety of data including speed, navigation, jump analytics, buddy tracking, text messages, and even viewfinder functionality, Recon plans to develop software for smartphones and other peripherals which provides users not only performance based information, but communications as well.
“This investment allows us to both further commercialize our existing products by providing working capital and continue the development of our near eye technologies.” said Dan Eisenhardt, Chief Executive Officer, Recon Instruments “Our product roadmap includes several exciting product launches in the coming months and years”.
“Recon Instruments has done an excellent job finding a unique way to enhance and extend the alpine experience with interactive digital media,” said V. Paul Lee, Managing Partner of Vancouver based Vanedge Capital. “The MOD Live is really only the tip of the iceberg for how this innovative technology can be applied and why Recon Instruments fits so well with our portfolio of interactive entertainment investments.”
“Recon has very cleverly developed micro display based products and concepts that enhance the excitement of action sports by measuring and conveying performance statistics in a compact eyewear such as a ski goggle,” said Kopin President and Chief Executive Officer Dr. John C. C. Fan. “Recon has been a customer of Kopin for several years and we are very impressed with their unique approach to expanding the micro display market.”
For additional information about Recon Instruments please visit www.reconinstruments.com or follow us at @Reconinstrument and facebook.com/reconinstruments.
*Golden-i is a trademark of Kopin Corporation
About Recon Instruments
Recon Instruments strives to innovate and lead direct-to-eye communications in any fast-paced environment, such as action sports. A multi-patent and patent-pending technology platform integrates Micro Optics Display systems with state-of-the-art sensor and GPS technology, providing easy access to navigation, communication, and performance-based information. With offices in Vancouver and London, and boundless testing grounds on Whistler and beyond, Recon Instruments is dedicated to advancing the performance, participation and ethos of sport. Trust your instruments. www.reconinstruments.com
About Vanedge Capital
Vanedge Capital is a new Vancouver BC based venture capital fund focused on investments in interactive entertainment and digital media businesses. The fund managers have extensive experience and relationships in this sector, and have built and led world class companies in video games, computer animation, and enterprise software, among others. For more information, visit www.vanedgecapital.com, or contact email@example.com
Kopin Corporation’s voice-activated, wireless, hands-free Golden-i® mobile computing headsets, ruggedized military imaging systems, ultra-small liquid crystal displays and heterojunction bipolar transistors (HBTs) are revolutionizing the way people around the world see, hear and communicate. Kopin has shipped more than 30 million displays for a range of consumer and military applications including digital cameras, personal video eyewear, camcorders, thermal weapon sights and night vision systems. The Company’s unique HBTs, which help to enhance battery life, talk time and signal clarity, have been integrated into billions of wireless handsets as well as into WiFi, VoIP and high-speed Internet data transmission systems. Kopin’s proprietary display and HBT technologies are protected by more than 200 global patents and patents pending. For more information, please visit Kopin’s website at www.kopin.com.