Meta Acquires Smart Glasses Specialist Startup, Not Giving Up Even though Metaverse is Low on Enthusiasm

JAKARTA - Meta has again spent its money by acquiring a Netherlands-based startup, Luxexcel, which is engaged in smart glasses. It is claimed, this purchase aims to re-invest in the metaverse.

"We are delighted that the Luxexcel team has joined Meta, deepening the existing partnership between the two companies," said Meta in a statement provided by the company's head of financial communications, Ryan Moore.

However, there is no further information on how much funds Meta has disbursed for Luxexcel. First reported by local Dutch media De Tijd and later confirmed by TechCrunch.

Founded in 2009, Luxexcel claims to be able to integrate elements needed to create augmented reality (AR) experiences in prescription lenses, such as holographic films and projectors.

Luxexcel has also partnered with WaveOptics, Snap's Spectacles display manufacturer, to create lenses equipped with waveguide, or transparent display technology needed to place virtual objects in a user's real life environment. The partnership cost 500 million US dollars, equivalent to IDR 7.7 trillion.

There are also rumors that Luxexcel previously worked with Meta on Project Aria AR glasses. Quoted from The Verge, Monday, January 2, the first version of AR Meta glasses was only available to developers such as Snap Spectacles in June last year, while the next two pairs were available to consumers for several years.

But Meta is inching closer to its goal, as it adds color video passthrough to the pricey new Quest Pro headset.

The company is also partnering with Ray-Ban in 2021 to launch Ray-Ban Stories, a pair of smart glasses equipped with a camera, speaker and microphone. However, the lens doesn't come with a built-in display, perhaps with this new acquisition helping Meta achieve that.