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APX Labs Nabs $10M Round

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 - Get Report) Google Glass or Epson America's Moverio to integrate data and content from corporate systems developed by SAP (SAP - Get Report) Microsoft (MSFT - Get Report) 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.

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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 - Get Report) 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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