Business
Vuzix Announces Strategic Investment in Supply Chain and Order Fulfillment Software Provider Ox Fulfillment Solutions
ROCHESTER, N.Y., March 2, 2021 /PRNewswire/ -- Vuzix® Corporation (NASDAQ: VUZI), ("Vuzix" or, the "Company"), a leading supplier of Smart Glasses and
About this update from Vuzix Corporation
[{"type":"text","content":"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. \n\"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. \nAbout Ox \nFounded 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/ \nAbout Vuzix Corporation \nVuzix 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 Sho...