News Report Technology
December 30, 2022

Meta acquires smart eyewear firm Luxexcel to strengthen its future in AR

meta Luxexcel
Source: Luxexcel

Meta has acquired the smart eyewear company Luxexcel, which will come in handy for Meta’s adoption of augmented reality and the creation of its first AR glasses. It’s unknown how much Meta paid to acquire the company.

Luxexcel was founded in 2009, with its headquarters in The Netherlands. At first, the company focused on 3D printing lenses for industrial optics, automotive, and aerospace industries. Now, the 3D printing firm makes prescription lenses for the eyewear market and creates complex glass lenses for AR optics.

In 2020, Luxexcel entered the smart eyewear market by combining 3D-printed prescription lenses with technology. One year later, the company partnered with British waveguide firm WaveOptics, which was eventually acquired by Snapchat’s parent company Snap.

In September 2021, Meta revealed the Ray-Ban Stories smart glasses that can capture photos and take videos, or make hands-free, voice-controlled calls using Meta apps, such as WhatsApp and Messenger. 

Rumors say that Meta might launch its first AR glasses in 2026. Luxexcel could supply the lenses required for the glasses, which are possibly more cost-effective than other solutions. By acquiring Luxexcel, Meta wants to secure its position in the rapidly growing AR market.

“This continues a trend of companies giants like Meta, Apple, Google, and others, including Snap and Vuzix, buying up the supply chain for AR components. This buying up of fledgling technologies is likely to hinder the long-term development of the AR market,”

said the industry’s observer, Karl Guttag.

Meta is currently facing a lawsuit from the FTC, which is attempting to prevent Meta from buying the VR fitness app “Within.” Federal regulators argue that Meta is monopolizing the VR industry and is trying to buy its dominance in the metaverse. 

Tags:

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Agne is a journalist who covers the latest trends and developments in the metaverse, AI, and Web3 industries for the Metaverse Post. Her passion for storytelling has led her to conduct numerous interviews with experts in these fields, always seeking to uncover exciting and engaging stories. Agne holds a Bachelor’s degree in literature and has an extensive background in writing about a wide range of topics including travel, art, and culture. She has also volunteered as an editor for the animal rights organization, where she helped raise awareness about animal welfare issues. Contact her on [email protected].

More articles
Agne Cimerman
Agne Cimerman

Agne is a journalist who covers the latest trends and developments in the metaverse, AI, and Web3 industries for the Metaverse Post. Her passion for storytelling has led her to conduct numerous interviews with experts in these fields, always seeking to uncover exciting and engaging stories. Agne holds a Bachelor’s degree in literature and has an extensive background in writing about a wide range of topics including travel, art, and culture. She has also volunteered as an editor for the animal rights organization, where she helped raise awareness about animal welfare issues. Contact her on [email protected].

Hot Stories

Top 10 Crypto Games to Invest in 2024

by Gregory Pudovsky
February 27, 2024
Join Our Newsletter.
Latest News

Top 10 Crypto Games to Invest in 2024

by Gregory Pudovsky
February 27, 2024

NFTs & Mining: A Digital Synergy

The rise in usage of the non-fungible tokens has changed the way we see and engage with ...

Know More

AI in Crypto

Explore the ever-evolving realm of artificial intelligence within the cryptocurrency sphere. Discover the transformative impact of AI ...

Know More
Join Our Innovative Tech Community
Read More
Read more
Fluence Launches FLT Token on Ethereum Mainnet Alongside Cloudless Computing Platform
Markets News Report
Fluence Launches FLT Token on Ethereum Mainnet Alongside Cloudless Computing Platform
February 27, 2024
Anonymous Dogwifhat (WIF) Trader Bags $1.4M Profit Investing $310 as the Memecoin Surges 50%
Markets News Report
Anonymous Dogwifhat (WIF) Trader Bags $1.4M Profit Investing $310 as the Memecoin Surges 50%
February 27, 2024
HTX Re-Applies for Hong Kong Virtual Asset Trading License Days After Withdrawal
Markets News Report
HTX Re-Applies for Hong Kong Virtual Asset Trading License Days After Withdrawal
February 27, 2024
How to Automate Mining With AI?
News Report
How to Automate Mining With AI?
February 27, 2024
What You
Need to Know

Subscribe To Our Newsletter.
Daily search marketing tidbits for savvy pros.