Adjustable focus eyeglasses firm PixelOptics sees green after $45 million round

April 8, 2011 By MassDevice staff Leave a Comment

PixelOptics Inc. raised $45 million to support the commercialization and launch of what the company calls the "world’s first electronic focusing" eyeglasses.

Wayne, Pa.-based holding company Safeguard Scientifics Inc. (NYSE:SFE) led the round, ponying up $25 million for equity in the company, the companies said.

Previous investors Delphi Ventures, The Carlyle Group, Longitude Capital and Stark Investments were syndicate partners in the round and made a total of $10 million in equity investments. Horizon Technology Finance Corp. (NSDQ:HRZN) provided $10 million in debt-based financing, according to the companies.

Safeguard CFO Stephen Zarrilli and life science group vice president Gary Kurtzman are slated to join PixelOptics’ board.

The Roanoke, Va.-based company makes eyeglasses called emPower! that contain an LCD-like layer sandwiched between two layers of glass. When stimulated by an electric current, the liquid crystals change structure and adjust the spectacles’ focus. The focus can be changed with a finger-operated switch or built-in accelerometer that detects movement for looking up or looking down and reading.

The glasses will be available in different "high fashion styles, shapes, sizes and colors" this spring, according to PixelOptics.

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