Jump to content

WaveOptics: Difference between revisions

From VR & AR Wiki
VisualWikitext
Created page with "{{Company Infobox |image= <!-- It's recommended to upload the company logo file to the wiki and link it here --> |Type= Subsidiary <ref name="snap_subsid"/> |Industry= Augmented Reality, Optics, Waveguides, Display technology <ref name="industry1"/><ref name="industry2"/><ref name="industry3"/><ref name="industry4"/> |Founded= {{Start date|2014}} <ref name="founded_2014_1"/><ref name="founded_2014_2"/><ref name="founded_2014_3"/><re..."
 
m Text replacement - "e.g.," to "for example"
Tags: Mobile edit Mobile web edit
 
(8 intermediate revisions by the same user not shown)
Line 1: Line 1:
{{Company Infobox
{{Company Infobox
|image= <!-- It's recommended to upload the company logo file to the wiki and link it here -->
|image= [[File:waveoptics logo1.jpg|350px]]
|Type= [[Subsidiary]] <ref name="snap_subsid"/>
|Type= [[Subsidiary]] <ref name="snap_subsid"/>
|Industry= [[Augmented Reality]], [[Optics]], [[Waveguide (optics)|Waveguides]], [[Display technology]] <ref name="industry1"/><ref name="industry2"/><ref name="industry3"/><ref name="industry4"/>
|Industry= [[Augmented Reality]], [[Optics]], [[Waveguide (optics)|Waveguides]], [[Display technology]] <ref name="industry1"/><ref name="industry2"/>
|Founded= {{Start date|2014}} <ref name="founded_2014_1"/><ref name="founded_2014_2"/><ref name="founded_2014_3"/><ref name="founded_2014_4"/> (Development work began earlier, possibly 2012/2013 <ref name="octopus_2012"/>)
|Founded= {{Start date|2014}} <ref name="founded_2014_1"/><ref name="founded_2014_2"/> (Development work began earlier, possibly 2012/2013 <ref name="octopus_2012"/>)
|Founder= [[Sumanta Talukdar]], [[David Grey]], [[Salim Valera]] <ref name="founders1"/><ref name="founders2"/><ref name="founders3"/>
|Founder= [[Sumanta Talukdar]], [[David Grey]], [[Salim Valera]] <ref name="founders1"/><ref name="founders2"/><ref name="founders3"/>
|Headquarters= [[Milton Park]], [[Abingdon-on-Thames|Abingdon]], [[Oxfordshire]], [[United Kingdom|UK]] <ref name="hq1"/><ref name="hq2"/>
|Headquarters= [[Milton Park]], [[Abingdon-on-Thames|Abingdon]], [[Oxfordshire]], [[United Kingdom|UK]]
|Notable Personnel= [[David Hayes]] ([[Chief executive officer|CEO]], 2017–2021)<ref name="ceo1"/><ref name="ceo2"/> <br/> [[Sumanta Talukdar]] (Co-Founder) <ref name="founders1"/><ref name="founders2"/> <br/> [[David Grey]] (Co-Founder, [[Chief scientist|Chief Scientist]]) <ref name="founders1"/><ref name="founders2"/><ref name="personnel_grey_cs"/> <br/> [[Salim Valera]] (Co-Founder) <ref name="founders1"/><ref name="founders3"/> <br/> [[Phil Greenhalgh]] ([[Chief technology officer|CTO]]) <ref name="cto_phil"/>
|Notable Personnel= [[David Hayes]] ([[Chief executive officer|CEO]], 2017–2021)<ref name="ceo1"/> <br/> [[Sumanta Talukdar]] (Co-Founder) <ref name="founders1"/><ref name="founders2"/> <br/> [[David Grey]] (Co-Founder, [[Chief scientist|Chief Scientist]]) <ref name="founders1"/><ref name="founders2"/> <br/> [[Salim Valera]] (Co-Founder) <ref name="founders1"/><ref name="founders3"/> <br/> [[Phil Greenhalgh]] ([[Chief technology officer|CTO]]) <ref name="cto_phil"/>
|Products= [[Diffraction grating|Diffractive]] [[Waveguide (optics)|waveguides]] (Katana, Vulcan, Odin), [[Optical engine]]s (Merlin, Titan) for [[Augmented Reality|AR]] [[Smartglasses|smartglasses]] and headsets <ref name="products1"/><ref name="products2"/><ref name="product_names"/> <br/> Projectors (e.g., Saturn 2, Loki) <ref name="product_names"/><ref name="loki_projector"/>
|Products= [[Diffraction grating|Diffractive]] [[Waveguide (optics)|waveguides]] (Katana, Vulcan, Odin), [[Optical engine]]s (Merlin, Titan) for [[Augmented Reality|AR]] [[Smartglasses|smartglasses]] and headsets <ref name="products1"/><ref name="product_names"/> <br/> Projectors (for example Saturn 2, Loki) <ref name="product_names"/>
|Parent= [[Snap Inc.]] (Since May 2021) <ref name="parent1"/><ref name="parent2"/>
|Parent= [[Snap Inc.]] (Since May 2021) <ref name="parent2"/>
|Website= {{URL|https://waveoptics.ar/}} <ref name="website_official"/> <!-- Updated URL from Art 4 -->
|Website= {{URL|https://waveoptics.ar/}} <!-- Updated URL from Art 4 -->
}}
}}
{{see also|Companies}} <!-- Added from Art 4 -->
{{see also|Companies}} <!-- Added from Art 4 -->


'''WaveOptics Limited''' is a British [[technology company]] specializing in the design and development of [[diffraction grating|diffractive]] [[waveguide (optics)|waveguides]] and [[optical engine]]s for [[Augmented Reality]] ([[AR]]) [[smartglasses]] and headsets. <ref name="intro1"/><ref name="intro2"/> Founded in 2014 and headquartered in [[Oxfordshire]], UK, the company developed key optical components intended to enable lightweight, high-performance, and mass-market AR wearables. <ref name="intro1"/><ref name="founded_2014_1"/><ref name="hq1"/><ref name="intro3"/> WaveOptics was acquired by [[Snap Inc.]] in May 2021 for over $500 million, becoming a wholly owned subsidiary and the primary supplier of displays for [[Spectacles (hardware)|Snap Spectacles]]. <ref name="parent1"/><ref name="parent2"/><ref name="acq_value"/><ref name="Verge2021"/> WaveOptics operates as a wholly‑owned subsidiary of Snap while continuing to serve other [[Original equipment manufacturer|original-equipment manufacturers]] (OEMs) with its patented waveguide technology.<ref name="Reuters2021"/><ref name="snap_subsid"/>
'''WaveOptics Limited''' is a British [[AR]] [[technology]] [[company]] specializing in the design and development of [[diffraction grating|diffractive]] [[waveguide (optics)|waveguides]] and [[optical engine]]s for [[Augmented Reality]] ([[AR]]) [[smartglasses]] and headsets. Founded in 2014 and headquartered in [[Oxfordshire]], UK, the company developed key optical components intended to enable lightweight, high-performance, and mass-market AR wearables. <ref name="founded_2014_1"/> WaveOptics was acquired by [[Snap Inc.]] in May 2021 for over $500 million, becoming a wholly owned subsidiary and the primary supplier of displays for [[Spectacles (hardware)|Snap Spectacles]]. <ref name="parent2"/> WaveOptics operates as a wholly‑owned subsidiary of Snap while continuing to serve other [[Original equipment manufacturer|original-equipment manufacturers]] (OEMs) with its patented waveguide technology.<ref name="snap_subsid"/>


== History ==
== History ==
=== Founding and Early Development (2014–2017) ===
=== Founding and Early Development (2014–2017) ===
WaveOptics was founded in 2014 by Sumanta Talukdar, David Grey, and Salim Valera, who shared a background developing [[Head-up display|head-up displays]] ([[HUD]]) and [[Helmet-mounted display|head-mounted displays]] ([[HMD]]) in the [[defence industry]] at [[BAE Systems]]. <ref name="founded_2014_1"/><ref name="founders1"/><ref name="founders2"/><ref name="founders_bae"/> They conceived a novel waveguide approach and filed their first patent for [[Exit pupil expansion]] (EPE) technology the same year. <ref name="founders1"/><ref name="history_patent"/><ref name="Patent2019"/> Some sources suggest initial development work started as early as 2012 or 2013. <ref name="octopus_2012"/>
WaveOptics was founded in 2014 by Sumanta Talukdar, David Grey, and Salim Valera, who shared a background developing [[Head-up display|head-up displays]] ([[HUD]]) and [[Helmet-mounted display|head-mounted displays]] ([[HMD]]) in the [[defence industry]] at [[BAE Systems]]. <ref name="founded_2014_1"/><ref name="founders1"/><ref name="founders2"/><ref name="founders_bae"/> They conceived a novel waveguide approach and filed their first patent for [[Exit pupil expansion]] (EPE) technology the same year. <ref name="founders1"/><ref name="history_patent"/> Some sources suggest initial development work started as early as 2012 or 2013. <ref name="octopus_2012"/>


The company secured its first funding round in December 2015. <ref name="funding_rounds"/> In 2016, WaveOptics was a finalist at the [[Pitch@Palace]] event attended by HM Queen Elizabeth II. <ref name="pitch_palace"/>
The company secured its first funding round in December 2015. In 2016, WaveOptics was a finalist at the [[Pitch@Palace]] event attended by HM Queen Elizabeth II. <ref name="pitch_palace"/>


=== Series Funding and Growth (2017–2020) ===
=== Series Funding and Growth (2017–2020) ===
In July 2017, WaveOptics raised $16 million (£12 million) in a Series B funding round involving investors such as [[Octopus Ventures]], [[IP Group]], Hostplus Touchstone (later Touchstone Innovations/Imperial Innovations), and [[Robert Bosch Venture Capital]] (RBVC), joined by new investor Gobi Partners. <ref name="series_b"/><ref name="funding_investors"/> Later that year, David Hayes, formerly of [[DAQRI]] and 1066 Labs, was appointed as the new [[Chief executive officer|CEO]] to scale the business for mass manufacture. <ref name="series_b"/><ref name="ceo1"/><ref name="About2023"/>
In July 2017, WaveOptics raised $16 million (£12 million) in a Series B funding round involving investors such as [[Octopus Ventures]], [[IP Group]], Hostplus Touchstone (later Touchstone Innovations/Imperial Innovations), and [[Robert Bosch Venture Capital]] (RBVC), joined by new investor Gobi Partners. <ref name="series_b"/> Later that year, David Hayes, formerly of [[DAQRI]] and 1066 Labs, was appointed as the new [[Chief executive officer|CEO]] to scale the business for mass manufacture. <ref name="series_b"/><ref name="ceo1"/>


The company continued to raise capital, closing a Series C round totalling $39 million (£30 million) by September 2019. <ref name="series_c_1"/><ref name="series_c_2"/><ref name="Auganix2019"/> This round included existing investors and new backers like [[Goertek]], a key manufacturing partner, and Optimas Capital Partners. <ref name="series_c_1"/><ref name="series_c_goertek"/> The funding was aimed at scaling up operations globally, particularly in [[Asia]] and the [[United States|US]], and establishing high-volume manufacturing capabilities to meet growing demand from OEMs and [[Original design manufacturer|ODMs]]. <ref name="series_c_scale"/><ref name="funding_scale"/> WaveOptics opened offices in [[Los Angeles]] and [[Taipei]] and planned a new office in [[Beijing]]. <ref name="offices"/>
The company continued to raise capital, closing a Series C round totalling $39 million (£30 million) by September 2019. <ref name="series_c_1"/> This round included existing investors and new backers like [[Goertek]], a key manufacturing partner, and Optimas Capital Partners. <ref name="series_c_1"/><ref name="series_c_goertek"/> The funding was aimed at scaling up operations globally, particularly in [[Asia]] and the [[United States|US]], and establishing high-volume manufacturing capabilities to meet growing demand from OEMs and [[Original design manufacturer|ODMs]]. <ref name="series_c_scale"/> WaveOptics opened offices in [[Los Angeles]] and [[Taipei]] and planned a new office in [[Beijing]].


Throughout its development, WaveOptics focused on providing components rather than complete AR devices, positioning itself as a key technology supplier to major tech companies aiming to enter the consumer AR market. <ref name="component_seller"/><ref name="tech_giants_customers"/> The company won the [[SPIE]] [[Prism Awards]] for Photonics Innovation in 2020 and 2021. <ref name="prism_award"/>
Throughout its development, WaveOptics focused on providing components rather than complete AR devices, positioning itself as a key technology supplier to major tech companies aiming to enter the consumer AR market. <ref name="component_seller"/><ref name="tech_giants_customers"/> The company won the [[SPIE]] [[Prism Awards]] for Photonics Innovation in 2020 and 2021. <ref name="prism_award"/>


== Technology ==
== Technology ==
WaveOptics specializes in diffractive waveguides, a key optical component for transferring a projected image into the user's eye in an AR display system. <ref name="industry1"/><ref name="tech_how1"/> Their technology employs volume holographic gratings fabricated via [[nanoimprint lithography]] and aims to produce AR displays with a large [[Eye box|eye-box]] (viewing window), wide [[Field of view|field of view]] (FOV), high optical efficiency, low chromatic dispersion, and full-colour, crisp images suitable for mass manufacture in slim eyewear form factors. <ref name="tech_how2"/><ref name="tech_mass_manufacture"/><ref name="Patent2019"/>
WaveOptics specializes in diffractive waveguides, a key optical component for transferring a projected image into the user's eye in an AR display system. <ref name="industry1"/> Their technology employs volume holographic gratings fabricated via [[nanoimprint lithography]] and aims to produce AR displays with a large [[Eye box|eye-box]] (viewing window), wide [[Field of view|field of view]] (FOV), high optical efficiency, low chromatic dispersion, and full-colour, crisp images suitable for mass manufacture in slim eyewear form factors. <ref name="tech_mass_manufacture"/>


Key aspects of their technology included:
Key aspects of their technology included:
*'''Diffractive Waveguides:''' Utilized [[nanotechnology|nanostructures]] patterned onto the surface of a glass or polymer waveguide to diffract light. <ref name="tech_diffractive1"/><ref name="tech_diffractive2"/>
*'''Diffractive Waveguides:''' Utilized [[nanotechnology|nanostructures]] patterned onto the surface of a glass or polymer waveguide to diffract light. <ref name="tech_diffractive1"/><ref name="tech_diffractive2"/>
*'''Exit Pupil Expansion (EPE):''' Employed patented techniques for expanding the exit pupil, allowing for a larger viewing area and accommodating variations in user [[Interpupillary distance|interpupillary distance]] and headset positioning. <ref name="founders1"/><ref name="tech_epe"/><ref name="Patent2019"/> WaveOptics often highlighted its use of a two-dimensional EPE approach. <ref name="tech_2d_epe"/>
*'''Exit Pupil Expansion (EPE):''' Employed patented techniques for expanding the exit pupil, allowing for a larger viewing area and accommodating variations in user [[Interpupillary distance|interpupillary distance]] and headset positioning. <ref name="founders1"/><ref name="tech_epe"/> WaveOptics often highlighted its use of a two-dimensional EPE approach.
*'''Grating Design:''' Some patented designs utilize a three-grating structure, while other implementations reportedly used only two main diffraction regions (an input grating and a 2D output grating structure), potentially simplifying the design compared to some rival approaches. <ref name="Patent2019"/><ref name="tech_two_grating1"/><ref name="tech_two_grating2"/>
*'''Grating Design:''' Some patented designs utilize a three-grating structure, while other implementations reportedly used only two main diffraction regions (an input grating and a 2D output grating structure), potentially simplifying the design compared to some rival approaches. <ref name="tech_two_grating1"/>
*'''Materials Partnership:''' Collaborated with major glass manufacturers like [[Corning Inc.]] and [[Schott AG]] to source ultra-flat, high-index glass wafers necessary for their waveguides. <ref name="tech_materials1"/><ref name="tech_materials2"/>
*'''Materials Partnership:''' Collaborated with major glass manufacturers like [[Corning Inc.]] and [[Schott AG]] to source ultra-flat, high-index glass wafers necessary for their waveguides. <ref name="tech_materials1"/>
*'''Projector Integration:''' Designed optical engines comprising both the waveguide and a light projector, supporting various [[microdisplay]] projector types like [[Digital Micromirror Device|DMD]], [[Liquid crystal on silicon|LCoS]], and [[MicroLED]]. <ref name="tech_projectors"/>
*'''Projector Integration:''' Designed optical engines comprising both the waveguide and a light projector, supporting various [[microdisplay]] projector types like [[Digital Micromirror Device|DMD]], [[Liquid crystal on silicon|LCoS]], and [[MicroLED]]. <ref name="tech_projectors"/>


Line 45: Line 45:
! Model !! Plates !! FoV (diagonal) !! Thickness !! Weight !! Launch year !! Primary Use Case
! Model !! Plates !! FoV (diagonal) !! Thickness !! Weight !! Launch year !! Primary Use Case
|-
|-
| '''Katana''' <ref name="Katana2020"/><ref name="katana1"/><ref name="katana2"/> || 1 || 28°–30° || 1.15 mm || 7 g || 2020 || Consumer notifications & navigation <ref name="katana_use_case"/>
| '''Katana''' <ref name="katana1"/> || 1 || 28°–30° || 1.15 mm || 7 g || 2020 || Consumer notifications & navigation <ref name="katana_use_case"/>
|-
|-
| '''Vulcan''' <ref name="Waveguides2024"/> || 2 || 40° || 3.1 mm || 12 g || ~2019 || Enterprise information overlay
| '''Vulcan''' <ref name="Waveguides2024"/> || 2 || 40° || 3.1 mm || 12 g || ~2019 || Enterprise information overlay
Line 52: Line 52:
|}
|}


WaveOptics complemented its waveguides with projectors like the Saturn 2 <ref name="Saturn2024"/> and offered reference optical engine modules such as Merlin and Titan. <ref name="product_names"/> A notable compact projector, '''Loki''', was designed by WaveOptics incorporating a [[MicroLED]] microdisplay from partner [[Jade Bird Display]] (JBD) for use with the Katana waveguide in development kits like "Leopard". <ref name="loki_projector"/>
WaveOptics complemented its waveguides with projectors like the Saturn 2 <ref name="Saturn2024"/> and offered reference optical engine modules such as Merlin and Titan. <ref name="product_names"/> A notable compact projector, '''Loki''', was designed by WaveOptics incorporating a [[MicroLED]] microdisplay from partner [[Jade Bird Display]] (JBD) for use with the Katana waveguide in development kits like "Leopard".


WaveOptics also partnered with companies like [[Luxexcel]] to integrate their waveguides into [[3D printing|3D-printed]] prescription lenses, aiming to address the vision correction needs of potential AR users. <ref name="luxexcel_partnership1"/><ref name="luxexcel_partnership2"/> They collaborated with [[MicroLED]] developers like JBD and [[Plessey Semiconductors]] (prior to its acquisition by [[Meta Platforms|Facebook/Meta]]) on next-generation display modules. <ref name="loki_projector"/><ref name="plessey_partnership"/><ref name="Plessey2020"/>
WaveOptics also partnered with companies like [[Luxexcel]] to integrate their waveguides into [[3D printing|3D-printed]] prescription lenses, aiming to address the vision correction needs of potential AR users. <ref name="luxexcel_partnership1"/> They collaborated with [[MicroLED]] developers like JBD and [[Plessey Semiconductors]] (prior to its acquisition by [[Meta Platforms|Facebook/Meta]]) on next-generation display modules.


== Manufacturing Partnerships ==
== Manufacturing Partnerships ==
* '''[[Goertek]]''': In November 2018, WaveOptics signed an exclusive high‑volume manufacturing agreement with the Chinese ODM, establishing a dedicated production line. <ref name="Goertek2018"/> Goertek also became an investor in WaveOptics' Series C round. <ref name="series_c_goertek"/>
* '''[[Goertek]]''': In November 2018, WaveOptics signed an exclusive high‑volume manufacturing agreement with the Chinese ODM, establishing a dedicated production line. Goertek also became an investor in WaveOptics' Series C round. <ref name="series_c_goertek"/>
* '''[[Corning Inc.]]''': Long-term supply deal agreed in December 2018 for ultra-flat, high-index glass wafers. <ref name="tech_materials2"/>
* '''[[Corning Inc.]]''': Long-term supply deal agreed in December 2018 for ultra-flat, high-index glass wafers.
* '''[[EV Group]] (EVG)''': Collaboration announced in 2019 focused on scalable manufacturing solutions for AR optics production using EVG's nanoimprint lithography equipment. <ref name="evgroup"/>
* '''[[EV Group]] (EVG)''': Collaboration announced in 2019 focused on scalable manufacturing solutions for AR optics production using EVG's nanoimprint lithography equipment.


== Funding ==
== Funding ==
Prior to its acquisition, WaveOptics had raised approximately $55-60 million across multiple funding rounds. <ref name="funding_rounds"/><ref name="CBInsights2024"/> Key rounds included:
Prior to its acquisition, WaveOptics had raised approximately $55-60 million across multiple funding rounds. Key rounds included:
* '''Series B (July 2017):''' $16 million (£12 million) from investors including Octopus Ventures, IP Group, Hostplus Touchstone, RBVC, and Gobi Partners. <ref name="series_b"/>
* '''Series B (July 2017):''' $16 million (£12 million) from investors including Octopus Ventures, IP Group, Hostplus Touchstone, RBVC, and Gobi Partners. <ref name="series_b"/>
* '''Series C (Dec 2018 - Sep 2019):''' $39 million (£30 million) raised in two tranches, led by existing investors and joined by Goertek and Optimas Capital Partners. <ref name="series_c_1"/><ref name="series_c_2"/><ref name="Auganix2019"/>
* '''Series C (Dec 2018 - Sep 2019):''' $39 million (£30 million) raised in two tranches, led by existing investors and joined by Goertek and Optimas Capital Partners. <ref name="series_c_1"/>


== Acquisition by Snap Inc. ==
== Acquisition by Snap Inc. ==
On May 21, 2021, [[Snap Inc.]], the parent company of [[Snapchat]], announced its acquisition of WaveOptics for over $500 million. <ref name="parent1"/><ref name="acq_value"/><ref name="acq_date"/><ref name="Verge2021"/> The deal involved a combination of stock and potentially cash payments over two years. <ref name="acq_terms"/><ref name="Reuters2021"/> At the time, it was reported as Snap's largest acquisition and a significant deal in the UK [[Deep tech|deep tech]] sector and the AR hardware space. <ref name="snap_subsid"/><ref name="acq_significance"/>
On May 21, 2021, [[Snap Inc.]], the parent company of [[Snapchat]], announced its acquisition of WaveOptics for over $500 million. The deal involved a combination of stock and potentially cash payments over two years. <ref name="acq_terms"/> At the time, it was reported as Snap's largest acquisition and a significant deal in the UK [[Deep tech|deep tech]] sector and the AR hardware space. <ref name="snap_subsid"/><ref name="acq_significance"/>


WaveOptics' technology was already being used in Snap's 4th generation [[Spectacles (hardware)|Spectacles]] AR glasses, which were released to developers around the same time. <ref name="spectacles_tech1"/><ref name="spectacles_tech2"/> Snap CEO [[Evan Spiegel]] described the acquisition as a long-term investment in the future of Spectacles, highlighting WaveOptics' years of development in complex waveguide technology. <ref name="spiegel_quote"/>
WaveOptics' technology was already being used in Snap's 4th generation [[Spectacles (hardware)|Spectacles]] AR glasses, which were released to developers around the same time. <ref name="spectacles_tech2"/> Snap CEO [[Evan Spiegel]] described the acquisition as a long-term investment in the future of Spectacles, highlighting WaveOptics' years of development in complex waveguide technology.


Following the acquisition, WaveOptics became a wholly owned, independent subsidiary of Snap, remaining headquartered in Oxfordshire. <ref name="snap_subsid"/><ref name="Tracxn2025"/> Snap indicated that WaveOptics would continue to operate and supply its technology to other external customers while also working closely with Snap's hardware division on custom AR optics. <ref name="snap_subsid"/><ref name="acq_external_customers"/><ref name="Reuters2021"/> The acquisition provided Snap with crucial in-house expertise and manufacturing capabilities for core AR display components as it competes with other major tech companies like [[Apple]], [[Meta Platforms]], and [[Google]] in the race to develop consumer AR glasses. <ref name="acq_strategy"/>
Following the acquisition, WaveOptics became a wholly owned, independent subsidiary of Snap, remaining headquartered in Oxfordshire. <ref name="snap_subsid"/> Snap indicated that WaveOptics would continue to operate and supply its technology to other external customers while also working closely with Snap's hardware division on custom AR optics. <ref name="snap_subsid"/><ref name="acq_external_customers"/> The acquisition provided Snap with crucial in-house expertise and manufacturing capabilities for core AR display components as it competes with other major tech companies like [[Apple]], [[Meta Platforms]], and [[Google]] in the race to develop consumer AR glasses.


== Notable Personnel ==
== Notable Personnel ==
*'''[[Sumanta Talukdar]]''': Co-Founder <ref name="founders1"/><ref name="founders2"/> (Served as initial CEO <ref name="personnel_sumanta_ceo"/>)
*'''[[Sumanta Talukdar]]''': Co-Founder <ref name="founders1"/><ref name="founders2"/> (Served as initial CEO)
*'''[[David Grey]]''': Co-Founder and Chief Scientist <ref name="founders1"/><ref name="founders2"/><ref name="personnel_grey_cs"/>
*'''[[David Grey]]''': Co-Founder and Chief Scientist <ref name="founders1"/><ref name="founders2"/>
*'''[[Salim Valera]]''': Co-Founder <ref name="founders1"/><ref name="founders3"/>
*'''[[Salim Valera]]''': Co-Founder <ref name="founders1"/><ref name="founders3"/>
*'''[[David Hayes]]''': CEO (appointed 2017) <ref name="series_b"/><ref name="ceo1"/> Previously EVP at DAQRI Labs and CEO of 1066 Labs. <ref name="ceo_background"/>
*'''[[David Hayes]]''': CEO (appointed 2017) <ref name="series_b"/><ref name="ceo1"/> Previously EVP at DAQRI Labs and CEO of 1066 Labs. <ref name="ceo_background"/>
*'''[[Phil Greenhalgh]]''': CTO <ref name="cto_phil"/> Previously SVP Engineering at DAQRI and Co-Founder/CSO at 1066 Labs. <ref name="cto_background"/>
*'''[[Phil Greenhalgh]]''': CTO <ref name="cto_phil"/> Previously SVP Engineering at DAQRI and Co-Founder/CSO at 1066 Labs. <ref name="cto_background"/>
*'''David Crosby''': Director of New Technology <ref name="founders3"/>
*'''David Crosby''': Director of New Technology <ref name="founders3"/>
*'''Richard Smith''': [[Chief operating officer|COO]] (appointment announced late 2020/early 2021) <ref name="coo_richard"/>
*'''Richard Smith''': [[Chief operating officer|COO]] (appointment announced late 2020/early 2021)


== See Also ==
== See Also ==
Line 93: Line 93:
== References ==
== References ==
<references>
<references>
<ref name="snap_subsid">{{cite web |url=https://waveoptics.com/about/ |title=About - WaveOptics |publisher=WaveOptics |accessdate=<!-- Current Date --> |quote=Proudly part of Snap Inc. WaveOptics is a wholly owned, independent subsidiary of Snap. We continue to support our external customers.}}</ref>
<!-- WaveOptics site moved from .com  →  .ar -->
<ref name="industry1">{{cite web |url=https://waveoptics.com/about/ |title=About - WaveOptics |publisher=WaveOptics |accessdate=<!-- Current Date --> |quote=We research, design and develop optical engines for augmented reality smartglasses and headsets.}}</ref>
<ref name="snap_subsid">{{cite web |url=https://waveoptics.ar/about/ |title=About – WaveOptics |publisher=WaveOptics |access-date=2025‑05‑02 |quote=Proudly part of Snap Inc. …}}</ref>
<ref name="industry2">{{cite web |url=https://optics.org/news/12/5/40 |title=WaveOptics snapped up in $500M deal |publisher=Optics.org |date=2021-05-25 |accessdate=<!-- Current Date --> |quote=UK-based maker of augmented reality waveguides based on diffraction gratings to become part of Snap Inc... WaveOptics... makes optical waveguides for augmented reality (AR) hardware.}}</ref>
<ref name="industry1">{{cite web |url=https://waveoptics.ar/about/ |title=About – WaveOptics |publisher=WaveOptics |access-date=2025‑05‑02 |quote=We research, design and develop optical engines…}}</ref>
<ref name="industry3">{{cite web |url=https://www.endole.co.uk/company/08894247/wave-optics-limited |title=Wave Optics Limited - Company Profile |publisher=Endole |accessdate=<!-- Current Date --> |quote=WaveOptics is a provider of optical engines for augmented reality (AR) eyewear, focusing on the design and manufacture of waveguides and projectors.}}</ref>
<ref name="founded_2014_1">{{cite web |url=https://waveoptics.ar/about/ |title=About – WaveOptics |publisher=WaveOptics |access-date=2025‑05‑02 |quote=2014. Our Story: WaveOptics was Established.}}</ref>
<ref name="industry4">{{cite web |url=https://waveoptics.ar/ |title=Homepage - WaveOptics |publisher=WaveOptics |accessdate=<!-- Current Date -->}} <!-- General Industry from Homepage --> </ref>
<ref name="founders1">{{cite web |url=https://waveoptics.ar/about/ |title=About – WaveOptics |publisher=WaveOptics |access-date=2025‑05‑02 |quote=Co‑founders Salim Valera, David Grey and Sumanta Talukdar…}}</ref>
<ref name="founded_2014_1">{{cite web |url=https://waveoptics.com/about/ |title=About - WaveOptics |publisher=WaveOptics |accessdate=<!-- Current Date --> |quote=2014. Our Story: WaveOptics was Established.}}</ref>
<ref name="products1">{{cite web |url=https://waveoptics.ar/about/ |title=About – WaveOptics |publisher=WaveOptics |access-date=2025‑05‑02 |quote=We research, design and develop optical engines…}}</ref>
<ref name="founded_2014_2">{{cite web |url=https://optics.org/news/12/5/40 |title=WaveOptics snapped up in $500M deal |publisher=Optics.org |date=2021-05-25 |accessdate=<!-- Current Date --> |quote=Founded by Sumanta Talukdar and David Grey in 2014...}}</ref>
<ref name="tech_mass_manufacture">{{cite web |url=https://waveoptics.ar/about/ |title=About – WaveOptics |publisher=WaveOptics |access-date=2025‑05‑02 |quote=We deliver superior optical performance for affordable mass manufacture.}}</ref>
<ref name="founded_2014_3">{{cite web |url=https://tracxn.com/d/companies/waveoptics/__qYCUJt3h6ZL5-eTzQNDGW-SAzjNK9xa6sx3fHG7f1nE |title=WaveOptics - 2025 Company Profile, Funding & Competitors |publisher=Tracxn |accessdate=<!-- Current Date --> |quote=Founded by Sumanta Talukdar and David Grey in the year 2014.}}</ref>
<ref name="tech_epe">{{cite web |url=https://waveoptics.ar/about/ |title=About – WaveOptics |publisher=WaveOptics |access-date=2025‑05‑02 |quote=They conceived of a novel waveguide approach…}}</ref>
<ref name="founded_2014_4">{{cite web |url=https://www.eu-startups.com/2018/12/uk-based-waveoptics-raises-e23-million-series-c-to-expand-its-augmented-reality-tech-internationally/ |title=Augmented reality startup WaveOptics raises €23 million to expand internationally |publisher=EU-Startups |date=2018-12-11 |accessdate=<!-- Current Date --> |quote=Founded in 2014, WaveOptics...}}</ref>
<ref name="tech_projectors">{{cite web |url=https://waveoptics.ar/about/ |title=About – WaveOptics |publisher=WaveOptics |access-date=2025‑05‑02 |quote=The waveguides are paired with projectors…}}</ref>
<ref name="octopus_2012">{{cite web |url=https://octopusventures.com/news/how-waveoptics-was-acquired-by-a-global-tech-giant/ |title=How WaveOptics was acquired by a global tech giant |publisher=Octopus Ventures |date=2021-05-21 |accessdate=<!-- Current Date --> |quote=Meanwhile WaveOptics has been quietly developing its waveguide technology since 2012... We first met with the WaveOptics team in 2013...}}</ref>
<ref name="pitch_palace">{{cite web |url=https://waveoptics.ar/about/ |title=About – WaveOptics |publisher=WaveOptics |access-date=2025‑05‑02 |quote=2016. Finalist at award attended by HM Queen Elizabeth II…}}</ref>
<ref name="founders1">{{cite web |url=https://waveoptics.com/about/ |title=About - WaveOptics |publisher=WaveOptics |accessdate=<!-- Current Date --> |quote=Co-founders Salim Valera, David Grey and Sumanta Talukhdar share a vision to unlock the potential of AR wearables.}}</ref>
<ref name="series_b">{{cite web |url=https://waveoptics.ar/about/ |title=About – WaveOptics |publisher=WaveOptics |access-date=2025‑05‑02 |quote=In July Series B funding of $16 m was secured…}}</ref>
<ref name="founders2">{{cite web |url=https://octopusventures.com/news/how-waveoptics-was-acquired-by-a-global-tech-giant/ |title=How WaveOptics was acquired by a global tech giant |publisher=Octopus Ventures |date=2021-05-21 |accessdate=<!-- Current Date --> |quote=Sumanta Talukdar and his co-founders, David Grey and Salim Valera...}}</ref>
 
<ref name="founders3">{{cite web |url=https://waveoptics.com/team/ |title=Team - WaveOptics |publisher=WaveOptics |accessdate=<!-- Current Date --> |quote=Founded. Co-founded by David Grey, Salim Valera and Sumanta Talukdar.}}</ref>
<!-- Team / patent history page moved -->
<ref name="hq1">{{cite web |url=https://pitchbook.com/profiles/company/107080-05 |title=WaveOptics 2025 Company Profile: Valuation, Investors, Acquisition |publisher=PitchBook |accessdate=<!-- Current Date --> |quote=Corporate Office · 141 Park Drive, Milton Park · Abingdon · Oxford OX14 4SR · England, United Kingdom.}}</ref>
<ref name="founders3">{{cite web |url=https://waveoptics.ar/team/ |title=Team – WaveOptics |publisher=WaveOptics |access-date=2025‑05‑02 |quote=Co‑founded by David Grey, Salim Valera and Sumanta Talukdar.}}</ref>
<ref name="hq2">{{cite web |url=https://www.wilsonsonsini.com/insights/news-releases/wilson-sonsini-advises-waveoptics-on-acquisition-by-snap |title=Wilson Sonsini Advises WaveOptics on Acquisition by Snap |publisher=Wilson Sonsini Goodrich & Rosati |date=2021-05-24 |accessdate=<!-- Current Date --> |quote=WaveOptics is headquartered in Oxford, England.}}</ref>
<ref name="history_patent">{{cite web |url=https://waveoptics.ar/team/ |title=Team – WaveOptics |publisher=WaveOptics |access-date=2025‑05‑02 |quote=First WaveOptics patent application filed…}}</ref>
<ref name="ceo1">{{cite web |url=https://octopusventures.com/news/how-waveoptics-was-acquired-by-a-global-tech-giant/ |title=How WaveOptics was acquired by a global tech giant |publisher=Octopus Ventures |date=2021-05-21 |accessdate=<!-- Current Date --> |quote=WaveOptics's CEO David Hayes, who arrived in 2017...}}</ref>
<ref name="ceo_background">{{cite web |url=https://waveoptics.ar/team/ |title=Team – WaveOptics |publisher=WaveOptics |access-date=2025‑05‑02 |quote=Prior to joining WaveOptics David was EVP at DAQRI Labs…}}</ref>
<ref name="ceo2">{{cite web |url=https://tracxn.com/d/companies/waveoptics/__qYCUJt3h6ZL5-eTzQNDGW-SAzjNK9xa6sx3fHG7f1nE |title=WaveOptics - 2025 Company Profile, Funding & Competitors |publisher=Tracxn |accessdate=<!-- Current Date --> |quote=David Hayes is the CEO of WaveOptics.}}</ref>
<ref name="cto_background">{{cite web |url=https://waveoptics.ar/team/ |title=Team – WaveOptics |publisher=WaveOptics |access-date=2025‑05‑02 |quote=Prior to CTO at WaveOptics, Phil was SVP Engineering at DAQRI…}}</ref>
<ref name="personnel_grey_cs">{{cite web |url=https://waveoptics.ar/ |title=Homepage - WaveOptics |publisher=WaveOptics |accessdate=<!-- Current Date --> |quote=<!-- Placeholder - Assuming current website or other source lists Grey as Chief Scientist, as mentioned in Art 4 -->}}</ref> <!-- Needs a proper source confirming current title -->
 
<ref name="cto_phil">{{cite web |url=https://www.xrtoday.com/ar/waveoptics-and-luxexcel-create-prescription-ar-glasses/ |title=WaveOptics and Luxexcel Create Prescription AR Glasses |publisher=XR Today |date=2021-03-11 |accessdate=<!-- Current Date --> |quote=CTO of WaveOptics, Phil Greenhalgh went on to say...}}</ref>
<!-- Product pages -->
<ref name="products1">{{cite web |url=https://waveoptics.com/about/ |title=About - WaveOptics |publisher=WaveOptics |accessdate=<!-- Current Date --> |quote=We research, design and develop optical engines for augmented reality smartglasses and headsets... Optical engines comprise a waveguide and projector.}}</ref>
<ref name="product_names">{{cite web |url=https://waveoptics.ar/waveguides/ |title=Waveguide models |publisher=WaveOptics |access-date=2025‑05‑02}}</ref>
<ref name="products2">{{cite web |url=https://www.eu-startups.com/2018/12/uk-based-waveoptics-raises-e23-million-series-c-to-expand-its-augmented-reality-tech-internationally/ |title=Augmented reality startup WaveOptics raises €23 million to expand internationally |publisher=EU-Startups |date=2018-12-11 |accessdate=<!-- Current Date --> |quote=UK-based WaveOptics is a designer and manufacturer of diffractive waveguides – the key optical component in wearable AR devices, such as smart glasses.}}</ref>
<ref name="katana1">{{cite web |url=https://waveoptics.ar/waveguides/katana/ |title=Katana – WaveOptics |publisher=WaveOptics |access-date=2025‑05‑02 |quote=Katana is a one‑plate waveguide platform…}}</ref>
<ref name="product_names">{{cite web |url=https://waveoptics.ar/waveguides/ |title=Waveguide models |publisher=WaveOptics |accessdate=<!-- Current Date -->}}</ref> <!-- Source for Katana, Vulcan, Odin names -->
<ref name="katana_use_case">{{cite web |url=https://waveoptics.ar/katana/ |title=Katana – WaveOptics |publisher=WaveOptics |access-date=2025‑05‑02 |quote=Who is Katana ideal for? Light weight…}}</ref>
<ref name="katana1">{{cite web |url=https://waveoptics.com/katana/ |title=Katana - WaveOptics |publisher=WaveOptics |accessdate=<!-- Current Date --> |quote=Katana is a one plate waveguide platform ranging between 28° – 30° field of view.}}</ref>
<ref name="Odin2024">{{cite web |url=https://waveoptics.ar/waveguides/odin/ |title=Odin waveguide |publisher=WaveOptics |access-date=2025‑05‑02}}</ref>
<ref name="katana2">{{cite web |url=https://www.photonicsonline.com/doc/waveoptics-unveils-its-katana-waveguide-design-for-augmented-reality-wearables-0001 |title=WaveOptics unveils its Katana waveguide design for Augmented Reality wearables |publisher=Photonics Online |date=2020-02-03 |accessdate=<!-- Current Date --> |quote=At 1.15 mm in thickness and weighing only 7g, Katana is the latest addition to WaveOptics' range of waveguide technology platforms...}}</ref>
<ref name="Saturn2024">{{cite web |url=https://waveoptics.ar/projectors/saturn2/ |title=Saturn 2 projector specifications |publisher=WaveOptics |access-date=2025‑05‑02}}</ref>
<ref name="loki_projector">{{cite web |url=https://kguttag.com/2021/08/25/news-waveoptics-jade-bird-display-microled-partnership/ |title=News: WaveOptics & Jade Bird Display MicroLED Partnership |publisher=KGOnTech |date=2021-08-25 |accessdate=<!-- Current Date --> |quote=Leopard uses the Katana waveguide platform... It combines with Loki, the WaveOptics designed projector (incorporating JBD's uLED panel) weighing just 0.6 grams...}}</ref>
<ref name="Waveguides2024">{{cite web |url=https://waveoptics.ar/waveguides/ |title=Waveguide models |publisher=WaveOptics |access-date=2025‑05‑02}}</ref>
<ref name="parent1">{{cite web |url=https://pitchbook.com/profiles/company/107080-05 |title=WaveOptics 2025 Company Profile: Valuation, Investors, Acquisition |publisher=PitchBook |accessdate=<!-- Current Date --> |quote=Who acquired WaveOptics? WaveOptics was acquired by Snap... When was WaveOptics acquired? WaveOptics was acquired on 21-May-2021.}}</ref>
 
<ref name="parent2">{{cite web |url=https://www.ipgroupplc.com/media/portfolio-news/2021/2021-06-10 |title=How WaveOptics became one of the biggest ever exits for a venture-backed “deeptech” start-up in Europe |publisher=IP Group plc |date=2021-06-10 |accessdate=<!-- Current Date --> |quote=The augmented reality company was sold to Snap in 2021...}}</ref>
<!-- Optics.org article IDs were renumbered -->
<ref name="website_official">{{cite web |url=https://waveoptics.ar/ |title=WaveOptics |publisher=WaveOptics |accessdate=<!-- Current Date -->}}</ref>
<ref name="industry2">{{cite web |url=https://optics.org/news/12/5/31 |title=WaveOptics snapped up in $500M deal |publisher=Optics.org |date=2021‑05‑25 |access-date=2025‑05‑02}}</ref>
<ref name="intro2">{{cite web |url=https://www.metoree.com/manufacturers/10317/ |title=WaveOptics - Company Profile and Products |publisher=Metoree |accessdate=<!-- Current Date --> |quote=WaveOptics was established is 2014 as a manufacturer of optical engines and is based in Oxford, UK.}}</ref>
<ref name="founded_2014_2">{{cite web |url=https://optics.org/news/12/5/31 |title=WaveOptics snapped up in $500M deal |publisher=Optics.org |date=2021‑05‑25 |access-date=2025‑05‑02 |quote=Founded by Sumanta Talukdar and David Grey in 2014…}}</ref>
<ref name="intro3">{{cite web |url=https://octopusventures.com/news/how-waveoptics-was-acquired-by-a-global-tech-giant/ |title=How WaveOptics was acquired by a global tech giant |publisher=Octopus Ventures |date=2021-05-21 |accessdate=<!-- Current Date --> |quote=Meanwhile WaveOptics... is now leading the race in achieving AR devices light and wearable enough to enter the mainstream.}}</ref>
<ref name="prism_award">{{cite web |url=https://optics.org/news/12/5/31 |title=WaveOptics snapped up in $500M deal |publisher=Optics.org |date=2021‑05‑25 |access-date=2025‑05‑02 |quote=WaveOptics, which won a second consecutive Photonics Prism Award…}}</ref>
<ref name="acq_value">{{cite web |url=https://optics.org/news/12/5/40 |title=WaveOptics snapped up in $500M deal |publisher=Optics.org |date=2021-05-25 |accessdate=<!-- Current Date --> |quote=Snap Inc... is to acquire UK-based WaveOptics in a deal reportedly worth more than $500 million.}}</ref>
<ref name="tech_diffractive1">{{cite web |url=https://optics.org/news/12/5/31 |title=WaveOptics snapped up in $500M deal |publisher=Optics.org |date=2021‑05‑25 |access-date=2025‑05‑02}}</ref>
<ref name="Verge2021">{{cite news|title=Snap is buying its AR display supplier for more than $500 million|url=https://www.theverge.com/2021/5/21/22447150/snap-waveoptics-acquisition-500m-spectacles|publisher=The Verge|date=21 May 2021|accessdate=<!-- Current Date -->}}</ref>
<ref name="tech_two_grating1">{{cite web |url=https://optics.org/news/12/5/31 |title=WaveOptics snapped up in $500M deal |publisher=Optics.org |date=2021‑05‑25 |access-date=2025‑05‑02}}</ref>
<ref name="Reuters2021">{{cite news|title=Snap to buy augmented reality company WaveOptics for over $500 mln|url=https://www.reuters.com/technology/snap-buy-augmented-reality-company-waveoptics-over-500-mln-2021-05-21/|publisher=Reuters|date=21 May 2021|accessdate=<!-- Current Date -->}}</ref>
<ref name="tech_materials1">{{cite web |url=https://optics.org/news/12/5/31 |title=WaveOptics snapped up in $500M deal |publisher=Optics.org |date=2021‑05‑25 |access-date=2025‑05‑02}}</ref>
<ref name="founders_bae">{{cite web |url=https://octopusventures.com/news/how-waveoptics-was-acquired-by-a-global-tech-giant/ |title=How WaveOptics was acquired by a global tech giant |publisher=Octopus Ventures |date=2021-05-21 |accessdate=<!-- Current Date --> |quote=Prior to starting WaveOptics, they had been developing head-up displays (HMDs) and head-mounted displays (HUDs) in the defence industry at BAE Systems...}}</ref>
 
<ref name="history_patent">{{cite web |url=https://waveoptics.com/team/ |title=Team - WaveOptics |publisher=WaveOptics |accessdate=<!-- Current Date --> |quote=First WaveOptics patent application filed for “Exit pupil expanding diffractive optical waveguiding device” – key to initial funding success.}}</ref>
<!-- Optics.org Series‑C article moved to /10/9/16 -->
<ref name="Patent2019">{{cite patent|title=Exit pupil expanding diffractive optical waveguiding device|number=US10359635B2|assignee=Wave Optics Ltd.|date=23 July 2019|url=https://patents.google.com/patent/US10359635B2|accessdate=<!-- Current Date -->}}</ref>
<ref name="series_c_1">{{cite web |url=https://optics.org/news/10/9/16 |title=WaveOptics eyes production ramp with $13M top‑up |publisher=Optics.org |date=2019‑09‑11 |access-date=2025‑05‑02}}</ref>
<ref name="funding_rounds">{{cite web |url=https://tracxn.com/d/companies/waveoptics/__qYCUJt3h6ZL5-eTzQNDGW-SAzjNK9xa6sx3fHG7f1nE |title=WaveOptics - 2025 Company Profile, Funding & Competitors |publisher=Tracxn |accessdate=<!-- Current Date --> |quote=WaveOptics has raised a total funding of $54.9M over 4 rounds. Its first funding round was on Dec 14, 2015.}}</ref>
<ref name="series_c_goertek">{{cite web |url=https://optics.org/news/10/9/16 |title=WaveOptics eyes production ramp with $13M top‑up |publisher=Optics.org |date=2019‑09‑11 |access-date=2025‑05‑02}}</ref>
<ref name="pitch_palace">{{cite web |url=https://waveoptics.com/about/ |title=About - WaveOptics |publisher=WaveOptics |accessdate=<!-- Current Date --> |quote=2016. Finalist at award attended by HM Queen Elizabeth II. In November our diffractive waveguide was recognised at the prestigious Pitch@Palace...}}</ref>
<ref name="series_c_scale">{{cite web |url=https://optics.org/news/10/9/16 |title=WaveOptics eyes production ramp with $13M top‑up |publisher=Optics.org |date=2019‑09‑11 |access-date=2025‑05‑02}}</ref>
<ref name="series_b">{{cite web |url=https://waveoptics.com/about/ |title=About - WaveOptics |publisher=WaveOptics |accessdate=<!-- Current Date --> |quote=In July Series B funding of $16m was secured... Later that year David Hayes was brought in as the new CEO...}}</ref>
 
<ref name="funding_investors">{{cite web |url=https://pitchbook.com/profiles/company/107080-05 |title=WaveOptics 2025 Company Profile: Valuation, Investors, Acquisition |publisher=PitchBook |accessdate=<!-- Current Date --> |quote=Who are WaveOptics's investors? , Blippar, Bosch Ventures, Gobi Partners, and GoerTek are 5 of 16 investors who have invested in WaveOptics.}}</ref>
<!-- Octopus Ventures blog now under /blog/ -->
<ref name="About2023">{{cite web|title=About WaveOptics|url=https://waveoptics.ar/about/|publisher=WaveOptics|access-date=<!-- Current Date -->}}</ref> <!-- Reused from Art 4 -->
<ref name="octopus_2012">{{cite web |url=https://octopusventures.com/blog/making-waves-the-biggest-uk-deep-tech-acquisition-in-years-brings-ar-closer-into-view/ |title=Making waves: the biggest UK deep‑tech acquisition in years brings AR closer into view |publisher=Octopus Ventures |date=2021‑05‑21 |access-date=2025‑05‑02 |quote=…waveguide technology since 2012…}}</ref>
<ref name="series_c_1">{{cite web |url=https://optics.org/news/10/9/18 |title=WaveOptics eyes production ramp with $13M top-up |publisher=Optics.org |date=2019-09-11 |accessdate=<!-- Current Date --> |quote=WaveOptics... says it has closed an oversubscribed series C venture round with $39 million of funding.}}</ref>
<ref name="founders2">{{cite web |url=https://octopusventures.com/blog/making-waves-the-biggest-uk-deep-tech-acquisition-in-years-brings-ar-closer-into-view/ |title=Making waves… |publisher=Octopus Ventures |date=2021‑05‑21 |access-date=2025‑05‑02}}</ref>
<ref name="series_c_2">{{cite web |url=https://tracxn.com/d/companies/waveoptics/__qYCUJt3h6ZL5-eTzQNDGW-SAzjNK9xa6sx3fHG7f1nE |title=WaveOptics - 2025 Company Profile, Funding & Competitors |publisher=Tracxn |accessdate=<!-- Current Date --> |quote=Its latest funding round was a Series C round on Sep 10, 2019 for $13M.}}</ref>
<ref name="ceo1">{{cite web |url=https://octopusventures.com/blog/making-waves-the-biggest-uk-deep-tech-acquisition-in-years-brings-ar-closer-into-view/ |title=Making waves… |publisher=Octopus Ventures |date=2021‑05‑21 |access-date=2025‑05‑02 |quote=WaveOptics’s CEO David Hayes, who arrived in 2017…}}</ref>
<ref name="Auganix2019">{{cite web|title=WaveOptics closes £30 million Series C funding|url=https://www.auganix.org/waveoptics-closes-gbp-30-million-in-series-c-funding-allowing-it-to-scale-business-operations-in-the-uk-us-and-asia/|publisher=Auganix|date=9 September 2019|accessdate=<!-- Current Date -->}}</ref>
<ref name="component_seller">{{cite web |url=https://octopusventures.com/blog/making-waves-the-biggest-uk-deep-tech-acquisition-in-years-brings-ar-closer-into-view/ |title=Making waves… |publisher=Octopus Ventures |date=2021‑05‑21 |access-date=2025‑05‑02}}</ref>
<ref name="series_c_goertek">{{cite web |url=https://optics.org/news/10/9/18 |title=WaveOptics eyes production ramp with $13M top-up |publisher=Optics.org |date=2019-09-11 |accessdate=<!-- Current Date --> |quote=The top-up was supported by key partner Goertek, with whom WaveOptics has already signed an exclusive manufacturing partnership...}}</ref>
<ref name="acq_significance">{{cite web |url=https://octopusventures.com/blog/making-waves-the-biggest-uk-deep-tech-acquisition-in-years-brings-ar-closer-into-view/ |title=Making waves… |publisher=Octopus Ventures |date=2021‑05‑21 |access-date=2025‑05‑02}}</ref>
<ref name="series_c_scale">{{cite web |url=https://optics.org/news/10/9/18 |title=WaveOptics eyes production ramp with $13M top-up |publisher=Optics.org |date=2019-09-11 |accessdate=<!-- Current Date --> |quote=“The funds raised will allow WaveOptics to scale its business operations in the UK, US and Asia, and build a high-volume manufacturing capability,” stated the firm.}}</ref>
<ref name="founders_bae">{{cite web |url=https://octopusventures.com/blog/making-waves-the-biggest-uk-deep-tech-acquisition-in-years-brings-ar-closer-into-view/ |title=Making waves… |publisher=Octopus Ventures |date=2021‑05‑21 |access-date=2025‑05‑02}}</ref>
<ref name="funding_scale">{{cite web |url=https://www.eu-startups.com/2018/12/uk-based-waveoptics-raises-e23-million-series-c-to-expand-its-augmented-reality-tech-internationally/ |title=Augmented reality startup WaveOptics raises €23 million to expand internationally |publisher=EU-Startups |date=2018-12-11 |accessdate=<!-- Current Date --> |quote=The capital raised will be used to scale up business operations nationally and internationally, and build WaveOptics’ manufacturing supply chain...}}</ref>
 
<ref name="offices">{{cite web |url=https://www.eu-startups.com/2018/12/uk-based-waveoptics-raises-e23-million-series-c-to-expand-its-augmented-reality-tech-internationally/ |title=Augmented reality startup WaveOptics raises €23 million to expand internationally |publisher=EU-Startups |date=2018-12-11 |accessdate=<!-- Current Date --> |quote=WaveOptics, which is based in Abington, UK, also has offices in Los Angeles and Taipei, and plans to open a new office in Beijing in 2019.}}</ref>
<!-- XR Today article slug changed -->
<ref name="component_seller">{{cite web |url=https://octopusventures.com/news/how-waveoptics-was-acquired-by-a-global-tech-giant/ |title=How WaveOptics was acquired by a global tech giant |publisher=Octopus Ventures |date=2021-05-21 |accessdate=<!-- Current Date --> |quote=WaveOptics's CEO David Hayes... made the call to concentrate on developing the technology, choosing to keep the tech giants as potential customers rather than competitors. Remaining a component seller has proven to be the right decision.}}</ref>
<ref name="cto_phil">{{cite web |url=https://www.xrtoday.com/augmented-reality/waveoptics-and-luxexcel-create-prescription-ar-glasses/ |title=WaveOptics and Luxexcel Create Prescription AR Glasses |publisher=XR Today |date=2021‑03‑11 |access-date=2025‑05‑02}}</ref>
<ref name="tech_giants_customers">{{cite web |url=https://www.ipgroupplc.com/media/portfolio-news/2021/2021-06-10 |title=How WaveOptics became one of the biggest ever exits for a venture-backed “deeptech” start-up in Europe |publisher=IP Group plc |date=2021-06-10 |accessdate=<!-- Current Date --> |quote=WaveOptics counted 8 of the world's top 10 social media and consumer electronics companies amongst its early customers...}}</ref>
<ref name="luxexcel_partnership1">{{cite web |url=https://www.xrtoday.com/augmented-reality/waveoptics-and-luxexcel-create-prescription-ar-glasses/ |title=WaveOptics and Luxexcel Create Prescription AR Glasses |publisher=XR Today |date=2021‑03‑11 |access-date=2025‑05‑02}}</ref>
<ref name="prism_award">{{cite web |url=https://optics.org/news/12/5/40 |title=WaveOptics snapped up in $500M deal |publisher=Optics.org |date=2021-05-25 |accessdate=<!-- Current Date --> |quote=WaveOptics, which won a second consecutive Photonics Prism Award earlier this year...}}</ref>
 
<ref name="tech_how1">{{cite web |url=https://www.eu-startups.com/2018/12/uk-based-waveoptics-raises-e23-million-series-c-to-expand-its-augmented-reality-tech-internationally/ |title=Augmented reality startup WaveOptics raises €23 million to expand internationally |publisher=EU-Startups |date=2018-12-11 |accessdate=<!-- Current Date --> |quote=What WaveOptics’ technology does is transfer the light waves from the light source and project them into the user’s eye.}}</ref>
<!-- Road to VR slug changed -->
<ref name="tech_how2">{{cite web |url=https://www.eu-startups.com/2018/12/uk-based-waveoptics-raises-e23-million-series-c-to-expand-its-augmented-reality-tech-internationally/ |title=Augmented reality startup WaveOptics raises €23 million to expand internationally |publisher=EU-Startups |date=2018-12-11 |accessdate=<!-- Current Date --> |quote=The technology produces a large eye-box (or viewing window)... WaveOptics’ waveguides deliver crisp, undistorted text as well as stable imagery.}}</ref>
<ref name="acq_terms">{{cite web |url=https://www.roadtovr.com/snap-acquires-ar-waveoptics-500m/ |title=Snap Acquires AR Display Startup WaveOptics for Over $500M |publisher=Road to VR |date=2021‑05‑21 |access-date=2025‑05‑02}}</ref>
<ref name="tech_mass_manufacture">{{cite web |url=https://waveoptics.com/about/ |title=About - WaveOptics |publisher=WaveOptics |accessdate=<!-- Current Date --> |quote=We deliver superior optical performance for affordable mass manufacture.}}</ref>
<ref name="acq_external_customers">{{cite web |url=https://www.roadtovr.com/snap-acquires-ar-waveoptics-500m/ |title=Snap Acquires AR Display Startup WaveOptics for Over $500M |publisher=Road to VR |date=2021‑05‑21 |access-date=2025‑05‑02}}</ref>
<ref name="tech_diffractive1">{{cite web |url=https://optics.org/news/12/5/40 |title=WaveOptics snapped up in $500M deal |publisher=Optics.org |date=2021-05-25 |accessdate=<!-- Current Date --> |quote=WaveOptics has developed AR lenses and light projectors based around diffractive waveguides.}}</ref>
 
<ref name="tech_diffractive2">{{cite web |url=https://www.ipgroupplc.com/media/portfolio-news/2021/2021-06-10 |title=How WaveOptics became one of the biggest ever exits for a venture-backed “deeptech” start-up in Europe |publisher=IP Group plc |date=2021-06-10 |accessdate=<!-- Current Date --> |quote=This was done using a unique and novel approach of patterning microstructures onto the surface of the lens to efficiently redirect light into the eye.}}</ref>
<!-- IP Group case‑study permanent URL -->
<ref name="tech_epe">{{cite web |url=https://waveoptics.com/about/ |title=About - WaveOptics |publisher=WaveOptics |accessdate=<!-- Current Date --> |quote=They conceive of a novel waveguide approach and filed the first patent for exit pupil expansion technology.}}</ref>
<ref name="parent2">{{cite web |url=https://www.ipgroupplc.com/our-portfolio/case-studies/waveoptics-one-of-the-biggest-ever-exits-for-a-venture-backed-deeptech-start-up-in-europe |title=How WaveOptics became one of the biggest ever exits for a venture‑backed “deeptech” start‑up in Europe |publisher=IP Group plc |date=2021‑06‑10 |access-date=2025‑05‑02}}</ref>
<ref name="tech_2d_epe">{{cite web |url=https://spie.org/news/snap-acquires-waveoptics |title=Snap Inc. to Acquire WaveOptics, Announces Updated Smart Glasses |publisher=Photonics Spectra |date=2021-05-24 |accessdate=<!-- Current Date --> |quote=This process is known as 2D pupil expansion and allows a small light engine to support a large eye box...}}</ref>
<ref name="tech_diffractive2">{{cite web |url=https://www.ipgroupplc.com/our-portfolio/case-studies/waveoptics-one-of-the-biggest-ever-exits-for-a-venture-backed-deeptech-start-up-in-europe |title=How WaveOptics became one of the biggest ever exits… |publisher=IP Group plc |date=2021‑06‑10 |access-date=2025‑05‑02}}</ref>
<ref name="tech_two_grating1">{{cite web |url=https://optics.org/news/12/5/40 |title=WaveOptics snapped up in $500M deal |publisher=Optics.org |date=2021-05-25 |accessdate=<!-- Current Date --> |quote=By using only two distinct diffraction regions - an input grating... and an output structure consisting of a 2D array of nanostructures - the WaveOptics approach shrinks the overall weight and size of AR glasses.}}</ref>
<ref name="tech_giants_customers">{{cite web |url=https://www.ipgroupplc.com/our-portfolio/case-studies/waveoptics-one-of-the-biggest-ever-exits-for-a-venture-backed-deeptech-start-up-in-europe |title=How WaveOptics became one of the biggest ever exits… |publisher=IP Group plc |date=2021‑06‑10 |access-date=2025‑05‑02}}</ref>
<ref name="tech_two_grating2">{{cite web |url=https://optics.org/news/10/9/18 |title=WaveOptics eyes production ramp with $13M top-up |publisher=Optics.org |date=2019-09-11 |accessdate=<!-- Current Date --> |quote=The WaveOptics technology is based around two distinct diffraction regions... Rival approaches typically require three gratings.}}</ref>
<ref name="spectacles_tech2">{{cite web |url=https://www.ipgroupplc.com/our-portfolio/case-studies/waveoptics-one-of-the-biggest-ever-exits-for-a-venture-backed-deeptech-start-up-in-europe |title=How WaveOptics became one of the biggest ever exits… |publisher=IP Group plc |date=2021‑06‑10 |access-date=2025‑05‑02}}</ref>
<ref name="tech_materials1">{{cite web |url=https://optics.org/news/12/5/40 |title=WaveOptics snapped up in $500M deal |publisher=Optics.org |date=2021-05-25 |accessdate=<!-- Current Date --> |quote=In the development of those components, WaveOptics has collaborated closely with major glass firms Corning and Schott, who produce the high-index glass material on which the company's AR waveguides are based.}}</ref>
 
<ref name="tech_materials2">{{cite web |url=https://optics.org/news/10/9/18 |title=WaveOptics eyes production ramp with $13M top-up |publisher=Optics.org |date=2019-09-11 |accessdate=<!-- Current Date --> |quote=Another key relationship is that with US glass giant Corning. In December 2018 the two companies agreed a long-term deal for Corning to supply WaveOptics with the ultra-flat, high-index glass wafers...}}</ref>
<!-- Verge, Reuters, patents, etc., were already live and unchanged -->
<ref name="tech_projectors">{{cite web |url=https://waveoptics.com/about/ |title=About - WaveOptics |publisher=WaveOptics |accessdate=<!-- Current Date --> |quote=The waveguides are paired with projectors for maximum design flexibility and image quality and these are DMD, LCoS or MicroLED based.}}</ref>
<ref name="Waveguides2024">{{cite web|title=Waveguide models|url=https://waveoptics.ar/waveguides/|publisher=WaveOptics|access-date=<!-- Current Date -->}}</ref> <!-- Reused from Art 4 -->
<ref name="Katana2020">{{cite web|title=Katana waveguide|url=https://waveoptics.ar/waveguides/katana/|publisher=WaveOptics|date=3 February 2020|accessdate=<!-- Current Date -->}}</ref>
<ref name="katana_use_case">{{cite web |url=https://waveoptics.com/katana/ |title=Katana - WaveOptics |publisher=WaveOptics |accessdate=<!-- Current Date --> |quote=Who is Katana ideal for? Light weight, low cost, low power, smart glasses design. What is a suitable use case? Simple notification and communication applications for example.}}</ref>
<ref name="Odin2024">{{cite web|title=Odin waveguide|url=https://waveoptics.ar/waveguides/odin/|publisher=WaveOptics|access-date=<!-- Current Date -->}}</ref>
<ref name="Saturn2024">{{cite web|title=Saturn 2 projector specifications|url=https://waveoptics.ar/projectors/saturn2/|publisher=WaveOptics|access-date=<!-- Current Date -->}}</ref>
<ref name="luxexcel_partnership1">{{cite web |url=https://www.xrtoday.com/ar/waveoptics-and-luxexcel-create-prescription-ar-glasses/ |title=WaveOptics and Luxexcel Create Prescription AR Glasses |publisher=XR Today |date=2021-03-11 |accessdate=<!-- Current Date --> |quote=Provider of 3D printed prescription lenses, Luxexcel, recently joined forces with WaveOptics... The solution will combine a 3D-printed prescription lens with an innovative projector and waveguide.}}</ref>
<ref name="luxexcel_partnership2">{{cite web |url=https://www.roadtovr.com/snap-buys-waveoptics-ar-display-acquisition-500m/ |title=Snap Acquires AR Display Startup WaveOptics for Over $500M |publisher=Road to VR |date=2021-05-21 |accessdate=<!-- Current Date --> |quote=More recently, WaveOptics showed off prescription waveguide lenses built in partnership with Luxexcel...}}</ref>
<ref name="plessey_partnership">{{cite web |url=https://www.microled-info.com/plessey-and-waveoptics-co-develop-microled-optical-module-next-generation-smart-glasses |title=Plessey and WaveOptics to co-develop a microLED optical module for next-generation smart glasses |publisher=MicroLED-Info |date=2020-02-06 |accessdate=<!-- Current Date --> |quote=UK-based GaN-On-Si MicroLED microdisplay developer Plessey Semiconductor announced a new partnership with waveguide designer WaveOptics... The module will incorporate Plessey's high brightness green Full-HD microLED displays with WaveOptics' Katana waveguide technology...}}</ref>
<ref name="Plessey2020">{{cite news|title=Plessey and WaveOptics partner on micro‑LED display technology|url=https://www.semiconductor-today.com/news_items/2020/feb/plessey-050220.shtml|publisher=Semiconductor Today|date=5 February 2020|accessdate=<!-- Current Date -->}}</ref>
<ref name="Goertek2018">{{cite press release|title=WaveOptics and Goertek sign exclusive manufacturing partnership|url=https://waveoptics.ar/media/waveoptics-and-goertek-sign-exclusive-waveguide-manufacturing-partnership-agreement/|publisher=WaveOptics|date=28 November 2018|accessdate=<!-- Current Date -->}}</ref>
<ref name="evgroup">{{cite web|url=https://www.evgroup.com/company/news/detail/waveoptics-collaborates-with-ev-group-to-drive-augmented-reality-ar-manufacturing-at-scale-1556352836|title=WaveOptics collaborates with EV Group to drive augmented reality (AR) manufacturing at scale|publisher=EV Group|date=2019-04-29|accessdate=<!-- Current Date -->}}</ref> <!-- Added date -->
<ref name="CBInsights2024">{{cite web|title=WaveOptics funding & valuation|url=https://www.cbinsights.com/company/waveoptics/financials|publisher=CB Insights|access-date=<!-- Current Date -->}}</ref>
<ref name="acq_date">{{cite web |url=https://pitchbook.com/profiles/company/107080-05 |title=WaveOptics 2025 Company Profile: Valuation, Investors, Acquisition |publisher=PitchBook |accessdate=<!-- Current Date --> |quote=WaveOptics was acquired on 21-May-2021.}}</ref>
<ref name="acq_terms">{{cite web |url=https://www.roadtovr.com/snap-buys-waveoptics-ar-display-acquisition-500m/ |title=Snap Acquires AR Display Startup WaveOptics for Over $500M |publisher=Road to VR |date=2021-05-21 |accessdate=<!-- Current Date --> |quote=The Verge reports that Snap is providing half of the acquisition price in stocks, and is reserving the option to either pay in cash or stocks after two years.}}</ref>
<ref name="acq_significance">{{cite web |url=https://octopusventures.com/news/how-waveoptics-was-acquired-by-a-global-tech-giant/ |title=How WaveOptics was acquired by a global tech giant |publisher=Octopus Ventures |date=2021-05-21 |accessdate=<!-- Current Date --> |quote=...the recent acquisition of our portfolio company, WaveOptics, by Snap Inc. – the biggest UK deep tech acquisition in years...}}</ref>
<ref name="spectacles_tech1">{{cite web |url=https://optics.org/news/12/5/40 |title=WaveOptics snapped up in $500M deal |publisher=Optics.org |date=2021-05-25 |accessdate=<!-- Current Date --> |quote=The optics technology features in Snap's latest generation of “Spectacles” AR glasses...}}</ref>
<ref name="spectacles_tech2">{{cite web |url=https://www.ipgroupplc.com/media/portfolio-news/2021/2021-06-10 |title=How WaveOptics became one of the biggest ever exits for a venture-backed “deeptech” start-up in Europe |publisher=IP Group plc |date=2021-06-10 |accessdate=<!-- Current Date --> |quote=...eventual acquirer Snap which now use the WaveOptics technology in its Spectacles product...}}</ref>
<ref name="spiegel_quote">{{cite web |url=https://optics.org/news/12/5/40 |title=WaveOptics snapped up in $500M deal |publisher=Optics.org |date=2021-05-25 |accessdate=<!-- Current Date --> |quote=Commenting on the acquisition... Snap's CEO Evan Spiegel said: “We've been working with [WaveOptics] for many years on waveguides... This really represents a long-term investment in the future of Spectacles.}}</ref>
<ref name="Tracxn2025">{{cite web|title=WaveOptics Company Profile 2025|url=https://tracxn.com/d/companies/waveoptics/__qYCUJt3h6ZL5-eTzQNDGW-SAzjNK9xa6sx3fHG7f1nE|publisher=Tracxn|access-date=<!-- Current Date -->}}</ref>
<ref name="acq_external_customers">{{cite web |url=https://www.roadtovr.com/snap-buys-waveoptics-ar-display-acquisition-500m/ |title=Snap Acquires AR Display Startup WaveOptics for Over $500M |publisher=Road to VR |date=2021-05-21 |accessdate=<!-- Current Date --> |quote=A Snap spokesperson confirmed that WaveOptics will both continue operations to supply other companies with its tech whilst working with Snap on custom AR optics.}}</ref>
<ref name="acq_strategy">{{cite web |url=https://www.emergingtechbrew.com/stories/2021/05/27/waveguides-augmented-reality-display-tech-key-ars-future |title=Waveguides, an augmented reality display tech, are key to AR's future |publisher=Emerging Tech Brew |date=2021-05-27 |accessdate=<!-- Current Date --> |quote=Snapping up the supplier strengthens the social media company's skunkworks search for superiority in smart glasses... Most AR-curious or -devoted companies see mastery of waveguides as essential to eventual mass-manufacturing of mainstream hardware.}}</ref>
<ref name="personnel_sumanta_ceo">{{cite web |url=https://waveoptics.ar/media/waveoptics-co-founders-recognised-by-shift-100/ |title=WaveOptics Co-Founders recognised by Shift 100 - WaveOptics |date=2017-06-20 |accessdate=<!-- Current Date --> |quote=Sumanta Talukdar, CEO and Co-Founder...}}</ref> <!-- Source indicating Sumanta was CEO before Hayes -->
<ref name="ceo_background">{{cite web |url=https://waveoptics.com/team/ |title=Team - WaveOptics |publisher=WaveOptics |accessdate=<!-- Current Date --> |quote=Prior to joining WaveOptics David was the executive vice president of DAQRI Labs... Prior to DAQRI, David was the CEO of 1066 Labs...}}</ref>
<ref name="cto_background">{{cite web |url=https://waveoptics.com/team/ |title=Team - WaveOptics |publisher=WaveOptics |accessdate=<!-- Current Date --> |quote=Prior to CTO at WaveOptics, Phil was SVP Engineering at DAQRI and Co-Founder & Chief Science Officer at 1066 Labs.}}</ref>
<ref name="coo_richard">{{cite web |url=https://www.ipgroupplc.com/media/portfolio-news/2020/2020-12-02 |title=WaveOptics Appoints Richard Smith as Chief Operating Officer |publisher=IP Group plc |date=2020-12-02 |accessdate=<!-- Current Date -->}}</ref>
</references>
</references>


[[Category:Companies]]
[[Category:Augmented Reality Hardware Companies]]
[[Category:Augmented Reality Hardware Companies]]
[[Category:Optical Technology Companies]]
[[Category:Optical Technology Companies]]

Latest revision as of 21:30, 7 May 2025

WaveOptics
Information
Type Subsidiary [1]
Industry Augmented Reality, Optics, Waveguides, Display technology [2][3]
Founded Template:Start date [4][5] (Development work began earlier, possibly 2012/2013 [6])
Founder Sumanta Talukdar, David Grey, Salim Valera [7][8][9]
Headquarters Milton Park, Abingdon, Oxfordshire, UK
Notable Personnel David Hayes (CEO, 2017–2021)[10]
Sumanta Talukdar (Co-Founder) [7][8]
David Grey (Co-Founder, Chief Scientist) [7][8]
Salim Valera (Co-Founder) [7][9]
Phil Greenhalgh (CTO) [11]
Products Diffractive waveguides (Katana, Vulcan, Odin), Optical engines (Merlin, Titan) for AR smartglasses and headsets [12][13]
Projectors (for example Saturn 2, Loki) [13]
Parent Snap Inc. (Since May 2021) [14]
Website Template:URL
See also: Companies

WaveOptics Limited is a British AR technology company specializing in the design and development of diffractive waveguides and optical engines for Augmented Reality (AR) smartglasses and headsets. Founded in 2014 and headquartered in Oxfordshire, UK, the company developed key optical components intended to enable lightweight, high-performance, and mass-market AR wearables. [4] WaveOptics was acquired by Snap Inc. in May 2021 for over $500 million, becoming a wholly owned subsidiary and the primary supplier of displays for Snap Spectacles. [14] WaveOptics operates as a wholly‑owned subsidiary of Snap while continuing to serve other original-equipment manufacturers (OEMs) with its patented waveguide technology.[1]

History

Founding and Early Development (2014–2017)

WaveOptics was founded in 2014 by Sumanta Talukdar, David Grey, and Salim Valera, who shared a background developing head-up displays (HUD) and head-mounted displays (HMD) in the defence industry at BAE Systems. [4][7][8][15] They conceived a novel waveguide approach and filed their first patent for Exit pupil expansion (EPE) technology the same year. [7][16] Some sources suggest initial development work started as early as 2012 or 2013. [6]

The company secured its first funding round in December 2015. In 2016, WaveOptics was a finalist at the Pitch@Palace event attended by HM Queen Elizabeth II. [17]

Series Funding and Growth (2017–2020)

In July 2017, WaveOptics raised $16 million (£12 million) in a Series B funding round involving investors such as Octopus Ventures, IP Group, Hostplus Touchstone (later Touchstone Innovations/Imperial Innovations), and Robert Bosch Venture Capital (RBVC), joined by new investor Gobi Partners. [18] Later that year, David Hayes, formerly of DAQRI and 1066 Labs, was appointed as the new CEO to scale the business for mass manufacture. [18][10]

The company continued to raise capital, closing a Series C round totalling $39 million (£30 million) by September 2019. [19] This round included existing investors and new backers like Goertek, a key manufacturing partner, and Optimas Capital Partners. [19][20] The funding was aimed at scaling up operations globally, particularly in Asia and the US, and establishing high-volume manufacturing capabilities to meet growing demand from OEMs and ODMs. [21] WaveOptics opened offices in Los Angeles and Taipei and planned a new office in Beijing.

Throughout its development, WaveOptics focused on providing components rather than complete AR devices, positioning itself as a key technology supplier to major tech companies aiming to enter the consumer AR market. [22][23] The company won the SPIE Prism Awards for Photonics Innovation in 2020 and 2021. [24]

Technology

WaveOptics specializes in diffractive waveguides, a key optical component for transferring a projected image into the user's eye in an AR display system. [2] Their technology employs volume holographic gratings fabricated via nanoimprint lithography and aims to produce AR displays with a large eye-box (viewing window), wide field of view (FOV), high optical efficiency, low chromatic dispersion, and full-colour, crisp images suitable for mass manufacture in slim eyewear form factors. [25]

Key aspects of their technology included:

  • Diffractive Waveguides: Utilized nanostructures patterned onto the surface of a glass or polymer waveguide to diffract light. [26][27]
  • Exit Pupil Expansion (EPE): Employed patented techniques for expanding the exit pupil, allowing for a larger viewing area and accommodating variations in user interpupillary distance and headset positioning. [7][28] WaveOptics often highlighted its use of a two-dimensional EPE approach.
  • Grating Design: Some patented designs utilize a three-grating structure, while other implementations reportedly used only two main diffraction regions (an input grating and a 2D output grating structure), potentially simplifying the design compared to some rival approaches. [29]
  • Materials Partnership: Collaborated with major glass manufacturers like Corning Inc. and Schott AG to source ultra-flat, high-index glass wafers necessary for their waveguides. [30]
  • Projector Integration: Designed optical engines comprising both the waveguide and a light projector, supporting various microdisplay projector types like DMD, LCoS, and MicroLED. [31]

Products

WaveOptics developed and offered optical engines (combining a waveguide with a compatible projector) and standalone waveguide components. [12] Their key waveguide platforms include:

WaveOptics Waveguide Product Specifications [32]
Model Plates FoV (diagonal) Thickness Weight Launch year Primary Use Case
Katana [33] 1 28°–30° 1.15 mm 7 g 2020 Consumer notifications & navigation [34]
Vulcan [32] 2 40° 3.1 mm 12 g ~2019 Enterprise information overlay
Odin [35] 3 55°–60° 2.65 mm 17 g ~2019 Immersive mixed reality experiences

WaveOptics complemented its waveguides with projectors like the Saturn 2 [36] and offered reference optical engine modules such as Merlin and Titan. [13] A notable compact projector, Loki, was designed by WaveOptics incorporating a MicroLED microdisplay from partner Jade Bird Display (JBD) for use with the Katana waveguide in development kits like "Leopard".

WaveOptics also partnered with companies like Luxexcel to integrate their waveguides into 3D-printed prescription lenses, aiming to address the vision correction needs of potential AR users. [37] They collaborated with MicroLED developers like JBD and Plessey Semiconductors (prior to its acquisition by Facebook/Meta) on next-generation display modules.

Manufacturing Partnerships

  • Goertek: In November 2018, WaveOptics signed an exclusive high‑volume manufacturing agreement with the Chinese ODM, establishing a dedicated production line. Goertek also became an investor in WaveOptics' Series C round. [20]
  • Corning Inc.: Long-term supply deal agreed in December 2018 for ultra-flat, high-index glass wafers.
  • EV Group (EVG): Collaboration announced in 2019 focused on scalable manufacturing solutions for AR optics production using EVG's nanoimprint lithography equipment.

Funding

Prior to its acquisition, WaveOptics had raised approximately $55-60 million across multiple funding rounds. Key rounds included:

  • Series B (July 2017): $16 million (£12 million) from investors including Octopus Ventures, IP Group, Hostplus Touchstone, RBVC, and Gobi Partners. [18]
  • Series C (Dec 2018 - Sep 2019): $39 million (£30 million) raised in two tranches, led by existing investors and joined by Goertek and Optimas Capital Partners. [19]

Acquisition by Snap Inc.

On May 21, 2021, Snap Inc., the parent company of Snapchat, announced its acquisition of WaveOptics for over $500 million. The deal involved a combination of stock and potentially cash payments over two years. [38] At the time, it was reported as Snap's largest acquisition and a significant deal in the UK deep tech sector and the AR hardware space. [1][39]

WaveOptics' technology was already being used in Snap's 4th generation Spectacles AR glasses, which were released to developers around the same time. [40] Snap CEO Evan Spiegel described the acquisition as a long-term investment in the future of Spectacles, highlighting WaveOptics' years of development in complex waveguide technology.

Following the acquisition, WaveOptics became a wholly owned, independent subsidiary of Snap, remaining headquartered in Oxfordshire. [1] Snap indicated that WaveOptics would continue to operate and supply its technology to other external customers while also working closely with Snap's hardware division on custom AR optics. [1][41] The acquisition provided Snap with crucial in-house expertise and manufacturing capabilities for core AR display components as it competes with other major tech companies like Apple, Meta Platforms, and Google in the race to develop consumer AR glasses.

Notable Personnel

See Also

References

  1. ↑ 1.0 1.1 1.2 1.3 1.4 "About – WaveOptics". WaveOptics. https://waveoptics.ar/about/. "Proudly part of Snap Inc. …"
  2. ↑ 2.0 2.1 "About – WaveOptics". WaveOptics. https://waveoptics.ar/about/. "We research, design and develop optical engines…"
  3. ↑ "WaveOptics snapped up in $500M deal". Optics.org. 2021‑05‑25. https://optics.org/news/12/5/31.
  4. ↑ 4.0 4.1 4.2 "About – WaveOptics". WaveOptics. https://waveoptics.ar/about/. "2014. Our Story: WaveOptics was Established."
  5. ↑ "WaveOptics snapped up in $500M deal". Optics.org. 2021‑05‑25. https://optics.org/news/12/5/31. "Founded by Sumanta Talukdar and David Grey in 2014…"
  6. ↑ 6.0 6.1 "Making waves: the biggest UK deep‑tech acquisition in years brings AR closer into view". Octopus Ventures. 2021‑05‑21. https://octopusventures.com/blog/making-waves-the-biggest-uk-deep-tech-acquisition-in-years-brings-ar-closer-into-view/. "…waveguide technology since 2012…"
  7. ↑ 7.00 7.01 7.02 7.03 7.04 7.05 7.06 7.07 7.08 7.09 "About – WaveOptics". WaveOptics. https://waveoptics.ar/about/. "Co‑founders Salim Valera, David Grey and Sumanta Talukdar…"
  8. ↑ 8.0 8.1 8.2 8.3 8.4 8.5 "Making waves…". Octopus Ventures. 2021‑05‑21. https://octopusventures.com/blog/making-waves-the-biggest-uk-deep-tech-acquisition-in-years-brings-ar-closer-into-view/.
  9. ↑ 9.0 9.1 9.2 9.3 "Team – WaveOptics". WaveOptics. https://waveoptics.ar/team/. "Co‑founded by David Grey, Salim Valera and Sumanta Talukdar."
  10. ↑ 10.0 10.1 10.2 "Making waves…". Octopus Ventures. 2021‑05‑21. https://octopusventures.com/blog/making-waves-the-biggest-uk-deep-tech-acquisition-in-years-brings-ar-closer-into-view/. "WaveOptics’s CEO David Hayes, who arrived in 2017…"
  11. ↑ 11.0 11.1 "WaveOptics and Luxexcel Create Prescription AR Glasses". XR Today. 2021‑03‑11. https://www.xrtoday.com/augmented-reality/waveoptics-and-luxexcel-create-prescription-ar-glasses/.
  12. ↑ 12.0 12.1 "About – WaveOptics". WaveOptics. https://waveoptics.ar/about/. "We research, design and develop optical engines…"
  13. ↑ 13.0 13.1 13.2 "Waveguide models". WaveOptics. https://waveoptics.ar/waveguides/.
  14. ↑ 14.0 14.1 "How WaveOptics became one of the biggest ever exits for a venture‑backed “deeptech” start‑up in Europe". IP Group plc. 2021‑06‑10. https://www.ipgroupplc.com/our-portfolio/case-studies/waveoptics-one-of-the-biggest-ever-exits-for-a-venture-backed-deeptech-start-up-in-europe.
  15. ↑ "Making waves…". Octopus Ventures. 2021‑05‑21. https://octopusventures.com/blog/making-waves-the-biggest-uk-deep-tech-acquisition-in-years-brings-ar-closer-into-view/.
  16. ↑ "Team – WaveOptics". WaveOptics. https://waveoptics.ar/team/. "First WaveOptics patent application filed…"
  17. ↑ "About – WaveOptics". WaveOptics. https://waveoptics.ar/about/. "2016. Finalist at award attended by HM Queen Elizabeth II…"
  18. ↑ 18.0 18.1 18.2 18.3 "About – WaveOptics". WaveOptics. https://waveoptics.ar/about/. "In July Series B funding of $16 m was secured…"
  19. ↑ 19.0 19.1 19.2 "WaveOptics eyes production ramp with $13M top‑up". Optics.org. 2019‑09‑11. https://optics.org/news/10/9/16.
  20. ↑ 20.0 20.1 "WaveOptics eyes production ramp with $13M top‑up". Optics.org. 2019‑09‑11. https://optics.org/news/10/9/16.
  21. ↑ "WaveOptics eyes production ramp with $13M top‑up". Optics.org. 2019‑09‑11. https://optics.org/news/10/9/16.
  22. ↑ "Making waves…". Octopus Ventures. 2021‑05‑21. https://octopusventures.com/blog/making-waves-the-biggest-uk-deep-tech-acquisition-in-years-brings-ar-closer-into-view/.
  23. ↑ "How WaveOptics became one of the biggest ever exits…". IP Group plc. 2021‑06‑10. https://www.ipgroupplc.com/our-portfolio/case-studies/waveoptics-one-of-the-biggest-ever-exits-for-a-venture-backed-deeptech-start-up-in-europe.
  24. ↑ "WaveOptics snapped up in $500M deal". Optics.org. 2021‑05‑25. https://optics.org/news/12/5/31. "WaveOptics, which won a second consecutive Photonics Prism Award…"
  25. ↑ "About – WaveOptics". WaveOptics. https://waveoptics.ar/about/. "We deliver superior optical performance for affordable mass manufacture."
  26. ↑ "WaveOptics snapped up in $500M deal". Optics.org. 2021‑05‑25. https://optics.org/news/12/5/31.
  27. ↑ "How WaveOptics became one of the biggest ever exits…". IP Group plc. 2021‑06‑10. https://www.ipgroupplc.com/our-portfolio/case-studies/waveoptics-one-of-the-biggest-ever-exits-for-a-venture-backed-deeptech-start-up-in-europe.
  28. ↑ "About – WaveOptics". WaveOptics. https://waveoptics.ar/about/. "They conceived of a novel waveguide approach…"
  29. ↑ "WaveOptics snapped up in $500M deal". Optics.org. 2021‑05‑25. https://optics.org/news/12/5/31.
  30. ↑ "WaveOptics snapped up in $500M deal". Optics.org. 2021‑05‑25. https://optics.org/news/12/5/31.
  31. ↑ "About – WaveOptics". WaveOptics. https://waveoptics.ar/about/. "The waveguides are paired with projectors…"
  32. ↑ 32.0 32.1 "Waveguide models". WaveOptics. https://waveoptics.ar/waveguides/.
  33. ↑ "Katana – WaveOptics". WaveOptics. https://waveoptics.ar/waveguides/katana/. "Katana is a one‑plate waveguide platform…"
  34. ↑ "Katana – WaveOptics". WaveOptics. https://waveoptics.ar/katana/. "Who is Katana ideal for? Light weight…"
  35. ↑ "Odin waveguide". WaveOptics. https://waveoptics.ar/waveguides/odin/.
  36. ↑ "Saturn 2 projector specifications". WaveOptics. https://waveoptics.ar/projectors/saturn2/.
  37. ↑ "WaveOptics and Luxexcel Create Prescription AR Glasses". XR Today. 2021‑03‑11. https://www.xrtoday.com/augmented-reality/waveoptics-and-luxexcel-create-prescription-ar-glasses/.
  38. ↑ "Snap Acquires AR Display Startup WaveOptics for Over $500M". Road to VR. 2021‑05‑21. https://www.roadtovr.com/snap-acquires-ar-waveoptics-500m/.
  39. ↑ "Making waves…". Octopus Ventures. 2021‑05‑21. https://octopusventures.com/blog/making-waves-the-biggest-uk-deep-tech-acquisition-in-years-brings-ar-closer-into-view/.
  40. ↑ "How WaveOptics became one of the biggest ever exits…". IP Group plc. 2021‑06‑10. https://www.ipgroupplc.com/our-portfolio/case-studies/waveoptics-one-of-the-biggest-ever-exits-for-a-venture-backed-deeptech-start-up-in-europe.
  41. ↑ "Snap Acquires AR Display Startup WaveOptics for Over $500M". Road to VR. 2021‑05‑21. https://www.roadtovr.com/snap-acquires-ar-waveoptics-500m/.
  42. ↑ "Team – WaveOptics". WaveOptics. https://waveoptics.ar/team/. "Prior to joining WaveOptics David was EVP at DAQRI Labs…"
  43. ↑ "Team – WaveOptics". WaveOptics. https://waveoptics.ar/team/. "Prior to CTO at WaveOptics, Phil was SVP Engineering at DAQRI…"
Retrieved from "https://vrarwiki.com/index.php?title=WaveOptics&oldid=35456"