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    <li>
      <p>
        Multinational retail chain Walmart has announced the acquisition of AR optical tech company Memomi. The financial terms of the deal were not disclosed. The acquisition is expected to close in the coming weeks, which will see co-founders Salvador Nissi Vilcovsky and Ofer Saban joining Walmart, along with the other members of the team.
      </p>
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    <li>
      <p>
        Memomi, founded in 2014, had initially partnered with Walmart and Sam&rsquo;s Clubs in 2019. The partnership, which saw Memomi provide virtual try-on experiences for eyewear, had expanded to over 2,800 Walmart Vision Centers and 550 Sam&rsquo;s Clubs.&nbsp;
      </p>
    </li>
  </ul>
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    <li>
      <p>
        Memomi&rsquo;s solutions have the potential to be used in beauty, fashion, accessories, and footwear verticals but Walmart is expected to focus on virtual optical try-ons. This acquisition also follows that of Zeekit, a virtual clothing try-on startup, last May.
      </p>
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  </ul>
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<div>
  <p>
    <a href="https://techcrunch.com/2022/06/29/walmart-is-acquiring-memomi-an-ar-startup-powering-virtual-try-on-for-eyewear/">
      TechCrunch
    </a>
  </p>
  <p>
    <a href="https://www.pymnts.com/news/retail/2022/walmart-adds-digital-eyeglass-fitting-company-augmented-reality-try-on-tools/">
      PYMNTS.com
    </a>
  </p>
  <p>
    <a href="https://www.calcalistech.com/ctechnews/article/hk5n6nic9">
      CTech
    </a>
  </p>
</div>


Extended Reality

Walmart acquires Memomi to strengthen virtual try-on solutions

ANALYST_QUICK_TAKE

PROMINENT_CATEGORY

<div>
 <p>Swave Photonics, a company based in Belgium, has unveiled the Holographic eXtended Reality (HXR) chipset. This is the first 3D holographic display for compact XR devices worldwide.</p>
 <p>The device, which is aimed primarily at AR glasses, facilitates AI-powered spatial computing experiences. Using non-volatile Phase Change Material (PCM) and a standard CMOS semiconductor process, it can provide true 3D holographic displays of up to 64 gigapixels, while remaining scalable.</p>
 <p>The company expects the HXR to be available to consumers in the latter half of 2024. Orders are currently being taken for development kits for device manufacturers. Predictions for future applications of the technology extend beyond AR glasses to include automotive heads-up displays and holographic displays that don't require glasses.</p>
</div> <p><b>Analyst QuickTake</b> :<br>
 The company differentiates by achieving holography through light refraction and interference. Swave Photonics raised EUR 3 million (~USD 3.3 million) in a seed funding round in <a href="https:<br>
//sp-edge.com/updates/19621"> June 2023 </a> . The funds were earmarked to facilitate the development of its diffractive optics technology used in XR applications.</p>

Swave Photonics launches world’s first 3D holographic display for compact XR devices

<div>
 <p>The Nitto Denko Corporation, located in Japan, has partially acquired TruLife Opticals, a manufacturer of AR glasses, for an undisclosed amount.</p>
 <p>This acquisition will permit Nitto to join the AR glass manufacturing industry and take advantage of its proficiency in adhesive, film, sheet technology, and optical design technology to improve current products. This decision is line with the company's medium-term management plan, labelled "Nitto For Everyone 2025", which centers on the creation of digital interfaces.</p>
 <p>TruLife Opticals, based in the UK, is a prominent manufacturer of holographic optical elements (HOEs) for glasses. The company has its own team of optical designers and possesses several proprietary models and codes.</p>
 
</div>

Japan-based Nitto acquires partial stake in TruLife Opticals to enter AR glass manufacturing sector

<div>
 <p>AR startup Trace has raised USD 2 million in a pre-seed funding round. The contributors for this funding round include Rev1 Ventures and Impellent Ventures with additional participation from Everywhere Ventures, Ohio Innovation Fund, and an assortment of other investors.</p>
 <p>This funding has been specifically earmarked for the development of the company's app, which is currently in its private beta stage.</p>
 <p>Trace was established by former senior employees of Magic Leap. The startup's primary objective is to streamline AR content creation. This is achieved by offering location-specific AR experiences. Trace has previously collaborated with several major businesses, including Qualcomm, Telefónica, T-Mobile, and Lenovo. This suggests an emphasis on establishing partnerships at an enterprise level.</p>
 
</div>

Trace raises USD 2 million in pre-seed funding to build location-based AR spaces

<div>
 <p>The Food and Drug Administration (FDA) has launched an initiative called the Home as a Health Care Hub to incorporate home environments into the healthcare system. This initiative makes use of augmented reality (AR) and virtual reality (VR) technologies.</p>
 <p>In order to actualize this, the FDA has teamed up with an architectural firm to help in conceptualizing the transformation. They aim to have a prototype of this product ready by the end of the year. The initiative will focus specifically on developing structures in rural and low-income communities, with a particular emphasis on diabetes as the primary health concern.</p>
</div>

FDA announces Home as Health Care Hub project for improved health equity

INCUMBENTS_PRESENT

<div>
 <p>According to Apple analyst Ming-Chi Kuo, Apple has reportedly reduced its shipment forecasts for the Vision Pro headset due to a decrease in demand. It is said that Apple anticipates selling around 400,000–450,000 units in 2024, as opposed to the earlier market consensus of 700,000–800,000 units. This development may prompt Apple to reassess its headset roadmap, potentially pushing back the release of a more affordable version of the Vision Pro headset till after 2025.</p>
</div> <p><b>Analyst QuickTake:<br>
 </b> The reported downward revision in headset shipments is likely due to the Vision Pro’s price tag of USD 3,500, compared to more budget-friendly alternatives such as the Quest 3 (USD 500). Additionally, the news follows Sony reportedly <a href="https:<br>
//www.roadtovr.com/report-sony-psvr-2-pauses-production-low-sales/"> pausing </a> production of its PSVR 2 headset as the company looks to clear out excess inventory.&nbsp;</p>

Apple reportedly cuts Vision Pro headset shipment forecasts amid softening demand

<div>
 <p>DPVR, a China-based firm, has revealed its latest innovation, the E4 Arc VR headset, set to ship at the end of May. It features Ultraleap's Leap Motion Controller 2 hand-tracking camera, which allows users to interact with virtual reality settings without the need for separate controllers.</p>
 <p>The E4 Arc headset is specifically developed for arcade game creators, corporate training programmes, and 3D designers. The included Ultraleap hand-tracking camera facilitates collaborative spatial design, prototyping, and visualization of CAD designs. In addition, the headset is designed with a cooling system for temperature regulation and easily replaceable cables for straightforward maintenance.</p>
 <p>Furthermore, DPVR's R&amp;D team is performing compatibility tests for hand-tracking supported games in the SteamVR library. This includes popular titles like Half-Life: Alyx and VRChat.</p>

</div> <p><b>Analyst QuickTake:<br>
</b> The E4 Arc headset likely incorporates the new cooling and audio systems announced by the company in <a href="https:<br>
//sp-edge.com/updates/27053"> February 2024 </a> , and follows the launch of its E4C headset in <a href="https:<br>
//sp-edge.com/updates/22921"> October 2023 </a> , tailored toward VR arcade operators. Additionally, Ultraleap’s Leap Motion 2 Controller (launched in <a href="https:<br>
//sp-edge.com/updates/18981"> May 2023 </a> and priced at USD 139), offers improved camera resolution, a wider field-of-view (FOV), and lower power consumption than its predecessor.&nbsp;</p>

DPVR announces launch of hand-tracking-supported E4 Arc VR headset

<div>
    <p>Rokid has unveiled the AR Lite, a combination of Rokid Max 2 AR glasses and Rokid Station 2 host unit. Details on pricing and availability have not been released yet as the company intends to crowdfund for the product on Kickstarter.</p>
    <p>Weighting 75 g, the Rokid Max 2 AR glasses come with an adjustable interpupillary distance (IPD), reducing the need for corrective lenses. The Rokid Station 2 host unit, made with an aluminum frame, operates on a Snapdragon platform optimized by Qualcomm for graphics rendering and AI calculations, and uses one-, two-, and three-finger touch controls.</p>
    <p>The combination of Max 2 and Station 2 supports multiscreen mode, allowing users to anchor multiple virtual displays (300 in) in real space. The "Motion Mode" also offers increased image stabilization, enabling users to wear the AR glasses while on the move without suffering from motion sickness.</p>
</div> <p><b>Analyst QuickTake:<br>
 </b> The AR Lite aligns with Rokid’s plans to build out spatial computing capabilities for its AR glasses, for which the company raised USD 71 million in funding in January 2024. Notably, mixed reality (or spatial computing) devices have seen a revival in investor interest following the debut of Apple’s Vision Pro headset, which prominently featured such capabilities.</p>

Rokid introduces AR Lite featuring Max 2 AR glasses and Station 2 host unit

<div>
 <p>The partnership between Microsoft and Meta has resulted in an Xbox-themed Meta Quest VR headset. Designed with gaming immersion in mind, the limited-edition headset will be bundled with Xbox controllers and a Game Pass. This is in-line with Meta's strategy to make its Quest VR operating system accessible to third-party hardware providers.</p>
</div> <p><b>Analyst QuickTake:<br>
</b> Microsoft’s hardware initiatives in the XR sector have largely been limited to its HoloLens 2 mixed reality headset, tailored toward enterprise applications and the army. The move represents a shift in efforts toward the consumer market, backed by the Quest’s history of being a prominent consumer-focused headset.</p>

Microsoft collaborates with Meta for limited edition Xbox-inspired Meta Quest VR headset

<div>
 <p>Meta announced that its 'Meta Horizon OS' mixed reality operating system can now be used by third-party manufacturers. Asus, Lenovo, and Microsoft's Xbox are the first companies to be announced to create devices using this software.</p>
 <p>Asus and Microsoft’s Xbox are creating a gaming-specific headset, whereas Lenovo’s product will focus on entertainment, productivity, and learning. However, the release of these devices may take a few years.</p>
 <p>The main features of the Meta Horizon OS include technologies for tracking the eyes, face, hands, and body, along with high-resolution passthrough. Notably, the passthrough feature allows users to visualize their surroundings while using the virtual or augmented reality headset.</p>
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Meta opens up its Horizon OS for third-party device makers: Asus, Lenovo, Microsoft join

<div>
 <p>Sandbox VR has launched a franchise program in the US, and is entering into a partnership with Netflix for a virtual reality (VR) experience based on Zack Synder's Rebel Moon – Part Two: The Scargiver. The franchising program, previously only available internationally, comes with an anticipation of an average net revenue of $1.9 million for US stores in 2023, and a net promoter score (NPS) between 67 and 74.</p>
 <p>In addition, a Rebel Moon-themed VR experience is set to launch in London. This engaging experience will transport users into an interactive virtual world where they navigate through underworld mines and battle antagonistic soldiers and spacecraft.</p>
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All Updates