wearality

wearality Company: Wearality Corporation Contact: David A Smith. CEO 919/244-444R Products: Wearality OrigamiTm — Immersive Foldable VR 2014 Wearality AR/VR phone display 2015 Wearality Augmented Reality Glasses 2016 Industry: Virtual Reality, Augmented Reality, WebVR, Next Generation human/computer interfaces. Includes optics. tracking, hardware for real time graphics and a focus on a compelling and powerful user experience. Company Status: The Wearality team has spent the last five years developing patented world class technologies for augmented reality (AR) and virtual reality (VR) at Lockheed Martin for the defense industry. Wearality has an exclusive license in all fields except aerospace and defense. Product Status: Beta product (the JimmyTm) designed and first developer units will be available in November 2014. Contract manufacturing relationships already in place and production at retail volumes for under $200 per unit possible by Q I , 2014. Customers: In talks with Amazon and Apple to distribute the consumer version of the Jimmy. Commercial models may be white- labeled. Prospects in Pipeline: Sales partners: Apple Computer, Amazon, Hallmark. AutoDesk, Fidelity Revenue Expectations: $3,000,000 First Quarter 2015 through a combination of retail and B2B sales. (Approximately 15.000 units with the capability to produce and sell exponentially more to meet market demand) Financing Needs: $2,500,000 Series A, Q4 2014, $10.000.000 Series B. 2015. Current Investors: Angels, friends and family Use of Funds: Complete product development of the Jimmy" and have the working capital to enter product in the consumer market with a best in class, wide field of view, VR experience. This standalone VR device to be quickly followed by a more robust VR/AR lightweight wearable device. Exit Strategy: Acquisition by a large player in the computer systems market looking to leapfrog current competition in the VR space as well as provide a best in class AR wearable smart phone. mini tablet. Business Description: Leveraging the MI efforts and patent protection of the largest defense contractor in the world, Wearality is translating defense industry grade immersive technology into a consumer and commercial head mounted devices with the widest field of view, lowest latency, and lightest weight at a unit price far below competitors. Existing and new content will be easily rendered via the web in real time providing a nearly limitless library of now immersive media choices all accessible from Company's website. Opportunity: Augmented Reality (and its subset VR) is emerging as the next major human/computer interface platform and complements directly the current wearable technology movement. Many different sectors could be profoundly affected by this new technology and industry leaders such as Apple, Samsung, Intel. Facebook, Amazon, Microsoft. Disney and others recognize its strategic significance and have already made large investments in this space (see Facebook's acquisition of Oculus Rift for $ I.5B, Microsoft's purchase of the Osterhaut patent portfolio for $ 00M, Google's commitment of $500M to Magic Leap). None of these players want to risk having their competitors lock up whatever consumers ultimately adopt as the dominant device to experience VR/AR content. Problem: Any head mount device with a chance of being a market leader will need to be: I) light, 2) cost effective, 3) wide field of view, 4) low latency, and 5) easily adopted by content providers. Field of view (FOV) and latency issues re the major causes of "simulation sickness" currently reported by users of Oculus Rift or other head mount devices. Differentiation: World class management team and board of advisors representing the absolute leaders in this field. The past contribution and continuing support of the world's largest defense contractor in the world. The patent protected solution to wide field of view, low weight, and low cost optics. The Wearality Solution: Wearality addresses these issues directly by providing a field of view that is almost twice the competition (170 DEG Diagonal), providing a near fully immersive virtual experience as well as having minimal latency in an extremely affordable package (under $100 per unit for the first generation device). We are focusing directly on development and delivery of web-based content, providing easy to use frameworks. Current Status/Outlook: • Developed a web framework enabling developers to quickly and easily create new experiences. • Developed prototype units of the "Origamirm", a foldable head mount unit that works with today's 6 inch phones (Samsung Galaxy Note 4, Nexus 6, and iPhone 6+). • Begun seeding our developer community with initial prototypes. • Have an extensive intellectual property portfolio (more than 3l patents and filings) licensed exclusively from Lockheed Martin with protection across the AR and VR market space. • Work begun already on next generation AR/VR wearable device for 2015. The company seeks funding to complete product development, manufacture, and market our initial product and fund the development of the next generation of products. EFTA01204813 Executive Team: The team has built and led businesses that have consistently created world class interactive 3D applications and entertainment products for over thirty years. This same team led the effort at Lockheed Martin to develop the next generation hardware that will enable the next great shift in human/computer experiences. Business Strategy: B2C: Find a partner such as Amazon or Apple to sell Jimmym in stores or online starting Q I 2015 at under $100 per unit. Work towards goal of having an installed base of over 1M units to achieve critical mass for developer community. With low cost and high performance capability of Jimmy we are confident of reaching this goal. All contract manufacturing relationships in place to meet these sales goals. B2B: Work with larger firms in design, architecture, information management, commercial realty organization, etc. to supply proprietary solutions. Develop next generation devices that will be far more capable wearable technology with both AR/VR capabilities. Ultimately develop a smart phone replacement. Technologies/Special Know-how: The Wearality team has developed a number of key hardware and software technologies while at the Lockheed Martin Innovation Laboratory. These technologies provide significant differentiation for the business. They include: • Wide field of view immersive lenses that can achieve a full 180+ field of view per eye, almost twice as wide as existing tech. • Wide field of view optical see-through asymmetric lenses that are almost as wide as the immersive technologies but are extremely light weight — prototypes currently weigh under 100 grams. • Flat lens packaging enabling a foldable device that makes our solution the ideal portable platform. • Design software to generate asymmetric lenses for head wearables and other applications. This is a critical differentiator, as these kinds of lenses cannot be designed with traditional optics CAD systems today. • High speed head and body tracking systems. • High speed tracking buffer/post render warp. • HDMI to MIPI DSI Interface board. • Mouse ring- finger worn Bluetooth 3D pointer/trackpad. • "Hardware interlace", doubles perceived resolution of micro displays for wearable systems. • Virtual World Framework — a web-based collaborative 3D platform making it very easy to develop multi-user VR/AR experiences. Conclusion: Wearality Corporation is providing a new, extremely compelling experience to a growing market that is benefiting from technology convergence provided by high performance phones, phablets and tablets. We see the future of mobile computing as one where AR will provide the next generation of human wearable interfaces to ubiquitously streaming content.. The augmented human is coming and Wearality is making it affordable, usable and cool. CEO: David A Smith • Chief Innovation Officer at Lockheed Martin • 30+ years in senior technical and business management; 6 years leading start-ups • The Colony, Virtus Corporation, Red Storm Entertainment, The Croquet Project • Founder/CEO — Virtus Corporation • Founder/CTO — Teleplace, Inc., SZL.it, Sales and Marketing: Mark Phillips • 30 years + experience in the electronics and software markets. • 20 years in the fields of visualization, virtual reality, simulation and gaming in Australia, Europe and the US. • Technology evangelist: General Dynamics, Presagis, Masagroup, Lockheed Martin. • Business Development & Product Management Executive Hardware Engineering: Patrick Goergen • Computer expert in Real Time programming languages. • Lead engineer at the Lockheed Martin MST Innovation Laboratory • Expert in VR, AR software and hardware • Rapid prototyping of devices, lenses, and electronics Software Engineering: Birago Jones • Founder and President of the MIT Media Lab Alumni Association • Nine years of experience as an instructor of UX/UI design and web programming • Research Assistant at MIT. Director of Strategic Partnerships and Creative Director at APX Labs • Expert in AR and VR User Experience Chief Scientist: Mark Bolas • Director of the Mixed Reality Lab at the USC Institute of Creative Technologies. • Leads research projects for Army Research Office, Office of Naval Research, DARPA and entertainment industry. • Developed FOV2GO which was the basis of the Oculus Rift, the Wide-5 HMD, Pinch Interface gloves, and the Boom VR Competition Wearality <570 >150° FOV EFTA01204814 Extremely wide field of view Augmented Reality design. Extremely wide field of view AR lens — 140 degrees. Augmented Reality prototype — weight is less than 100 grams. .90 0 10 b GPU-based software to compute asymmetrical lenses. Extremely wide field of view and light weight VR display designed for iPhone 6+, Nexus 6 and Samsung Note 4. EFTA01204815