Cemtrex Inks Strategic Partnership with Smartglasses Maker Lucyd


Reading time ( words)

Cemtrex Advanced Technologies (CAT), a subsidiary of Cemtrex Inc., has announced that its CemtrexVR division has entered into a strategic partnership to develop augmented reality (AR) solutions with Lucyd, a manufacturer of ergonomic smartglasses utilizing a blockchain platform with its LCD token to create, share and experience AR content.

CAT’s newly formed division CemtrexVR, has long term plans to develop integrated hardware and software solutions for a wide variety of virtual and augmented reality applications. One area Cemtrex is initially focusing on is developing solutions for industrial applications, leveraging its extensive Fortune 500 customer base, to improve manufacturing production time and quality control using AR/VR. The company is already in early stage discussions with a Top 10 global aerospace equipment manufacturer for a pilot demonstration within the next six months.

Cemtrex's Chairman and CEO Saagar Govil said, "We are extremely excited about this new partnership as it allows us to participate in the two most cutting-edge technologies: blockchain platform and AR, thus providing us an opportunity to establish ourselves in this emerging space. Collaborating closely with leading edge manufacturers of augmented reality glasses like Lucyd, Vuzix, and Magic Leap is a core part of our strategy as we look to integrate our proprietary industrial software applications with agile eyewear that can work effectively in hazardous manufacturing environments. We are at Day 1 of VR and we expect this market will closely resemble the PC or mobile device market over the coming years in terms of scope and size."

"We will be developing and releasing a few agile software applications for the AR / VR markets over the coming months in 3 different verticals all with significant long-term monetization potential," continued Govil.

Lucyd CEO Clifford M. Gross, “We are very excited to work together with Cemtrex VR to support their AR apps on the smartglasses we are developing. We believe Cemtrex VR’s vast development experience combined with Cemtrex’s long-standing presence in industrial and manufacturing markets will enhance the utility and adoption of Lucyd Lens smartglasses.”

Cemtrex is planning to develop these new cutting-edge solutions under its new division CemtrexVR, which was formed as the Company recently acquired assets and talent after completing its previously announced acquisition. Cemtrex VR has offices in New York City and Pune, India with over 40 developers with vast experience in developing applications for VR/AR, PC, mobile, and web.

Share

Print


Suggested Items

RTW IPC APEX EXPO: Zentech on the Fourth Pillar of DoD Acquisitions, and NIST

02/08/2019 | Real Time with...IPC
Steve Williams speaks with John Vaughan, VP of sales and marketing for Zentech, about their dominance in the military/aerospace market sector, the new "fourth pillar of DoD acquisitions," and how companies that do not take the NIST initiative seriously will be quickly left behind.

Defense Speak Interpreted: PERM—Pb-free Electronics Risk Management

12/18/2018 | Dennis Fritz, Fritz Consulting
In this column, we explore PERM—the Pb-free Electronics Risk Management Consortium. No, the group members do not all have curly hair! The name was chosen around 2008 by a group of engineers from aerospace, defense, and harsh environment (ADHE) organizations.

Tempo Automation's Open House Raises the Curtain in San Francisco

11/28/2018 | Nolan Johnson, I-Connect007
Based in San Francisco, Tempo Automation specializes in rapid PCB assembly and on low volume production for a wide range of board complexities. It recently held an open house at its brand-new facility in the South of Market (SoMa) district—which is normally restricted under customer non-disclosure agreements as well as International Traffic in Arms Regulations (ITAR) regulations—to customers, vendors, local designers, and government officials.



Copyright © 2019 I-Connect007. All rights reserved.