Vuzix is a decades-old industry leader in the augmented reality space, whereas ThirdEye and DreamWorld are new startups, both founded in 2016 and their first products launched in 2018. All requested data regarding these companies has been entered in the attached spreadsheet, and can also be found below, followed by an explanation of our research methodology.
- Vuzix was founded in 1997 by Paul Travers in Rochester, New York. It released its first product, a virtual reality product called VFX-3D, in 1998 under the name Interactive Imagine Systems.
- Vuzix is recognized as a pioneer in the augmented reality space, and can be said to have experimented with AR-style technology as early as 2003, with its Second Sight personal display device.
- While it has not been outright acquired, Intel did purchase a sizeable share in the company, which it retains today (though the two companies terminated a cooperative agreement in 2016).
- The company has not gone through any change in senior leadership, with founder Paul Travers and CFO Grant Russell remaining at the company for the entirety of its existence.
Vuzix currently has two products on the market and one expected to ship in September 2019:
- The M400 Smart Glasses are the company's newest AR product, expected to ship in September 2019. They will allegedly be "the most powerful standalone smart glasses available on the market."
- The Vuzix Blade AR Smart Glasses are more conventional smart glasses. They are "perfect for any user," implying a general public target audience, and, at $699, are the company's cheapest offering.
- The M300XL Smart Glasses are an AR headset aimed more directly at enterprise clients, with Vuzix touting the device's efficiency gains in the workplace.
- Through six funding rounds, Vuzix has raised a total of US$47,900,000.
- Vuzix claims that its M300XL brings "even more efficiency to the workplace" than its previous iteration, the M300, thanks to "new design and feedback systems."
- Its impending M400 Smart Glasses will allegedly be the most powerful of their kind on the market, according to Vuzix.
- It claims that its Vuzix Blade headset "delivers enhanced functionality for your on-the-go, hands-free, mobile computing requirements."
- Paul J. Travers, CEO, President and Director
- Grant Russell, CFO, Executive Vice President, Treasurer and Director
- ThirdEye was founded in Princeton, New Jersey in 2016 by Nick Cherukuri.
- Cherukuri has explained that the first two years of the company's existence consisted of research, with its first product, the X1 augmented reality headset, being launched at CES in 2018.
- It has not yet been acquired, nor made any acquisitions. No change in senior leadership, which currently consists solely of Cherukuri, has yet occurred in the company's brief history.
- Cherukuri has bankrolled the company's entire research and development by himself thus far, although he is planning fundraising rounds in the near future.
ThirdEye currently offers one hardware product and two software solution that are included with the hardware, as well as an associated software service:
- ThirdEye X2 augmented reality glasses, which incorporate "a wide field of view, powerful sensors, and the VisionEye SLAM SDK into an exceptionally minimalistic form factor." CEO Nick Cherukuri has said that the field of view is its primary differentiating factor, "which, at 42 degrees, it is very wide."
- ThirdEye Workspace, which "is a powerful, fully integrated software tool that comes with ThirdEye Smart Glasses." This software provides a suite of workplace-related augmented reality applications designed for the company's enterprise clients.
- The VisionEye Slam SDK, included with the company's hardware, "is built by ThirdEye to allow its Smart Glasses to better understand and interact with the real world." It orients the device within the real world to construct an augmented reality.
- ThirdEye also offers a custom software-building service, in which "in-house software developers can build and create Augmented/Mixed Reality Software based on your specific use case."
- ThirdEye has, thus far, been self-funded by founder and CEO Nick Cherukuri, but he has recently said that he is currently planning a Series A funding round.
- ThirdEye claims that its small X2 augmented reality headset fits a variety of impressive technical specifications into "an exceptionally minimalistic form factor."
- It claims that clients "can dramatically benefit from ThirdEye’s Remote Help Platform." The software, ThirdEye says, will "increase [clients'] operational efficiency and KPI’s while empowering [their] workforce[s] and improving customer satisfaction. Case studies show task reduction times up to 40%."
- Nick Cherukuri, Founder, CEO
- DreamWorld was founded in 2016 in San Mateo, California by Kevin Zhong and Ying Mao. The company's first product, the DreamGlass, was launched in 2018. It has not yet been acquired, nor made any acquisitions. No change in senior leadership has yet occurred. The company's co-founders still occupy senior leadership positions.
- DreamWorld's only product currently on the market is the DreamGlass, an affordable AR headset that connects to AR-capable smartphones. The device combines high-caliber technical specifications with a relatively low price, being the first to offer "a 90-degree field of view for less than $400."
- No funding data could be found for DreamWorld.
- DreamWorld claims that the DreamGlass combines "the virtual world with the real like never before" with "industry-leading optical design." The device, it says, is a "low cost, high tech, cross-platform compatible" option in the augmented reality space. Users can, according to DreamWorld, "interact intuitively through the [attached smart phone's] touchscreen."
Your research team employed the following strategy:
To locate the requested data on Vuzix, ThirdEye, and DreamWorld, we conducted three distinct research approaches. First, we conducted an exhaustive review of the companies' websites and associated company-produced materials, such as press releases. Second, we conducted a search of third-party databases, such as Crunchbase. Third, we conducted a generalized press search to find third-party media reports regarding the companies.
Some combination of these approaches allowed us to find all requested data on the three companies aside from funding data on DreamWorld. The company's Crunchbase profile, where funding data is often displayed, did not include any information. The company's website included little information in general about the company itself, instead focusing primarily on its product. While several media reports regarding the company and its product were found, none included any funding information. The company may be self-funded, like ThirdEye, or funded by some other means; in any case, no information in this regard was found to be publicly available.