LightGuide, Inc. Raises $15M To Accelerate the Growth of Their Digital Workflow Instruction Platform
New investment supports the growing need for the digital transformation of human-centric industrial processes
LightGuide, Inc., the leading projected augmented reality (AR) software platform that transforms manual assembly and manufacturing processes for companies worldwide, announced that it has raised a $15M Series B financing led by G2 Venture Partners, with continued participation from Capital Midwest Fund and Michigan Capital Advisors.
LightGuide’s patented Industry 4.0 technology dramatically standardizes and improves any manual process by projecting virtual step-by-step instructions onto an employee’s work surface. This visual and intuitive light guidance provides immersive, “No Faults Forward” process control through defect prevention and traceable analytics. It is the right information, at the right time, in the right place to ensure processes are completed safely, correctly, and efficiently.
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This investment will combine G2’s focus on investing in the digitization of industrial markets with LightGuide’s proven and practical AR software platform to further accelerate LightGuide’s worldwide growth. Core initiatives for the company include expansion of its global sales and support network to meet the rapidly growing demand for AR work instructions and continued R&D in its cloud infrastructure and software suite.
“LightGuide is bridging the gap between Industry 4.0 technology and the best of human intelligence, expanding and empowering the worldwide manufacturing workforce,” said CEO and founder Paul Ryznar. “We are honored to have G2 join our existing investment team of Capital Midwest Fund and Michigan Capital Advisors to further advance this goal. Together, we will help more industrial manufacturers benefit from digital transformation that simplifies complex work and provides greater operational excellence.”
“LightGuide is the clear leader in projected AR solutions for industry,” said Daniel Oros, partner at G2. “Their innovative products are used today across a diverse set of customers, and for each one, they deliver great value by allowing employees to operate more efficiently, safely, and with higher quality. We look forward to being a part of the LightGuide journey as they digitally transform complex manual assembly.”
Today, LightGuide works with a variety of leading automotive, aerospace, heavy equipment, agricultural equipment producers, and distribution companies, as well as in the healthcare field, to solve a growing variety of challenges. Key clients include world-class manufacturing companies such as GE, Bosch, Caterpillar, Magna, and JR Automation.
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