Vancouver’s Recon Instruments announced today that it has raised a $10 million Series A round from a group led by the venture capital firm Vanedge Capital with participation from Kopin Corporation. The funds will be used for further commercializing its proprietary technology.
Strategic partner Kopin produces lightweight, power-efficient, ultra-small liquid crystal displays (LCDs) and heterojunction bipolar transistors (HBTs) that are revolutionizing the way people around the world see, hear and communicate.
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.”
Earlier this week Recon made two announcements at the Consumer Electronics Show. In May 2012 they will be launching a Software Development Kit (SDK) for the Android based MOD Live (Micro Optics Display) and their new compatibility with Polar heart rate monitors.