ROCHESTER, N.Y., March 2, 2021 /PRNewswire/ -- Vuzix®
Corporation (NASDAQ: VUZI), ("Vuzix" or, the "Company"), a
leading supplier of Smart Glasses and Augmented Reality (AR)
technology and products, today announced that the Company has
participated in a private seed investment round announced
today by Ox Fulfillment Solutions (formerly
Oculogx). The investment round in Ox was led by MaC Venture
Capital and Cortado Ventures and included a minority
investment from Vuzix. Ox intends to use the funding to invest in
partnerships and help expand its operations to assist more large
retail firms in supply chain optimization using machine
learning.
"Ox has assembled a very impressive team and built an innovative
hands-free smart glasses-based augmented reality order management
system that enables retailers to pick orders faster and more
accurately than any incumbent technology. Vuzix is excited to
be one of the new strategic investors in Ox and we look forward to
partnering and supporting their smart glasses hardware business
needs as they begin to scale their solution into brick-and-mortar
stores in the coming quarters," said Paul
Travers, Vuzix President and Chief Executive Officer.
About Ox
Founded in 2019, Ox is a complete fulfillment platform built for
the future of supply chain. Ox allows companies to fully optimize
their fulfillment operations by empowering their workforce to do
more. The platform integrates seamlessly with current systems to
automate warehouse and pick routing to maximize unit shipment per
hour. By implementing Ox into all areas of fulfillment, supply
chains can be pulled into the future and into the competition. Ox
which is headquartered in Bentonville,
AR continues to grow, with current clientele including
numerous Fortune 500 companies. For more information, visit
https://www.getox.com/
About Vuzix Corporation
Vuzix is a leading supplier of Smart-Glasses and Augmented
Reality (AR) technologies and products for the consumer and
enterprise markets. The Company's products include personal display
and wearable computing devices that offer users a portable
high-quality viewing experience, provide solutions for mobility,
wearable displays and augmented reality. Vuzix holds 184 patents
and patents pending and numerous IP licenses in the Video Eyewear
field. The Company has won Consumer Electronics Show (or CES)
awards for innovation for the years 2005 to 2021 and several
wireless technology innovation awards among others. Founded in
1997, Vuzix is a public company (NASDAQ: VUZI) with offices in
Rochester, NY, Oxford, UK, and Tokyo, Japan. For more information,
visit
Vuzix website, Twitter and Facebook pages.
Forward-Looking Statements Disclaimer
Certain statements contained in this news release are
"forward-looking statements" within the meaning of the Securities
Litigation Reform Act of 1995 and applicable Canadian securities
laws. Forward looking statements contained in this release relate
to Vuzix' existing and potential business growth opportunities with
Ox Fulfillment Solutions and among other things the Company's
leadership in the Smart Glasses and AR display industry. They are
generally identified by words such as "believes," "may," "expects,"
"anticipates," "should" and similar expressions. Readers should not
place undue reliance on such forward-looking statements, which are
based upon the Company's beliefs and assumptions as of the date of
this release. The Company's actual results could differ materially
due to risk factors and other items described in more detail in the
"Risk Factors" section of the Company's Annual Reports and MD&A
filed with the United States Securities and Exchange Commission and
applicable Canadian securities regulators (copies of which may be
obtained at www.sedar.com or www.sec.gov). Subsequent events and
developments may cause these forward-looking statements to change.
The Company specifically disclaims any obligation or intention to
update or revise these forward-looking statements as a result of
changed events or circumstances that occur after the date of this
release, except as required by applicable law.
Media and Investor Relations Contact:
Ed McGregor, Director of Investor
Relations
Vuzix Corporation
ed_mcgregor@vuzix.com
Tel: (585) 359-5985
Vuzix Corporation, 25 Hendrix Road, Suite A, West Henrietta, NY 14586 USA,
Investor Information – IR@vuzix.com www.vuzix.com
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SOURCE Vuzix Corporation