LightGuide, Inc. Raises $15M To Accelerate the Growth of Their Digital Workflow Instruction Platform
Industry: Computer Software/Services
New investment supports the growing need for the digital transformation of human-centric industrial processes
Wixom, MI (PRUnderground) July 8th, 2021
LightGuide, Inc., the leading projected augmented reality (AR) software platform that transforms manual assembly and manufacturing processes for companies worldwide, today 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.
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.
To learn more about LightGuide, Inc. visit https://lightguidesys.com/
About G2 Venture Partners
At G2 Venture Partners, we invest in emerging technology companies that digitize traditional industries and drive market transformations. Tapping into global industries from transportation, energy and agriculture to manufacturing and logistics, G2 was founded around a multi-trillion dollar trend: the digitization of industry. As this trend takes root, and industries worldwide transition from traditional analog to digital processes, G2 sees tremendous opportunity for value creation, economic growth, and sector disruption. By aligning companies, purpose and profit, we aim to unlock previously unidentified paths to sustainability and resource efficiency. Learn more at g2vp.com.
About LightGuide, Inc.
LightGuide, Inc. uses proprietary software and high-powered projector systems to guide and confirm the completion of complex tasks. From assembly to quality control and training, LightGuide, Inc. technology provides the visualization, traceability, and flexibility demanded by leading companies worldwide. Key industries include aerospace, agriculture, automotive, energy, heavy equipment, and medical. LightGuide, Inc. is headquartered in Wixom, Mich., and has a European location in the Czech Republic.