philip lelyveld The world of entertainment technology


ODG Raises $58 Million To Grow Its Augmented Reality Business

On Thursday, ODG announced it has completed its first outside investment ever. The company has raised a Series A round of $58 million led by 21st Century Fox. Fox's participation was announced earlier this year, but now the round has closed. Other investors include Shenzhen, China-based manufacturer O-film Tech and Beijing, China-based investment fund Vanfund Urban Investment & Development.

ODG plans to use the money to chase after the emerging augmented reality market for consumers and businesses. For the past seven years, it's been building augmented reality glasses for the military.

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