Myrias Optics Secures $3M to Support Optics Offerings

University of Massachusetts (UMass) Amherst spinout company Myrias Optics has secured a $3 million seed investment. Myrias, a developer of all-inorganic printed meta-optics, said that it will use the funding to meet growing customer demand and interest in the company’s structure, materials, and process technology platform.

The company is targeting applications in augmented reality/virtual reality (AR/VR), consumer electronics, machine vision, advanced robotics, automotive light detection and ranging, defense, and aerospace. According to Myrias CEO Patrick Tan, the company already has multiple Tier 1 customers engaged in AR/VR and consumer electronics applications. These applications, he said, can benefit from cost, performance, and lifetime advantages enabled by Myrias’ IP over existing etched or printed polymer-based processes.

UMass Amherst professor and Myrias Optics founder James Watkins. Courtesy of UMass/Thom Kendall.

Asia Optical Inc. led the investment round, with participation from UMass Amherst, Tenon Ventures, and HOSS Investment Inc. The company, founded by UMass faculty member James Watkins, plans to manufacture in Western Massachusetts.

In addition, development and adoption of the optical technologies developed by the Watkins Group will benefit from a $5 million award from the Massachusetts Technology Collaborative announced in October. The grant will enable UMass Amherst to establish an open-access advanced optics fabrication and characterization facility on its campus and to acquire nano-imprint lithography equipment.