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APX Labs Nabs $10M Round

Stocks in this article: GOOG SAP MSFT FB

NEW YORK (The Deal) -- Smart glasses and wearable visual computing continue to attract capital, with software developer APX Labs raising $10 million from New Enterprise Associates, in a deal announced Tuesday.

APX's Skylight software platform allows smart glasses such as Google's (GOOG) Google Glass or Epson America's Moverio to integrate data and content from corporate systems developed by SAP (SAP) Microsoft (MSFT) and others.

The technology would allow remote workers for an energy company or medical staff to access manuals or instructional videos, or relay visual communications to a physically remote superior, without using their hands or stopping work, among other applications.

"Wearables are the next exciting mobile platform," APX co-founder and CEO Brian Ballard said.

The investment increased APX's total capital raise to $15.8 million. NEA partners Peter Barris and Dayna Grayson will join the board of the Herndon, Va., company. Though on a much smaller scale, the deal followed Facebook's (FB) blockbuster $2 billion purchase of virtual reality hardware developer Oculus.

Facebook's purchase is not directly analogous. APX develops software, not hardware. Oculus makes virtual reality headsets that provide a view of an alternate reality, unlike smart glasses that augment vision with displays.

However, medical, educational and other uses of the products overlap.

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