South West spectacles group Inspecs is to collaborate with US tech giant Qualcomm on developing \u2018smart eyewear\u2019 in a tie-up to make them leaders in rapid-growth sector.<\/p>\n
Bath-headquartered Inspecs, recently acquired by serial entrepreneurs Luke Johnson and Ian Livingstone for \u00a385.4m, said the commercial collaboration aimed to \u201ccreate a connected, technology-enabled platform that intends to redefine eyewear as a technology category\u201d.<\/p>\n
In a joint statement the firms said the move would bring together San Diego-based Qualcomm Technologies’ globally recognised technology expertise and scale with Inspecs’s eyewear design authority, manufacturing capability, global distribution and trusted brand relationships to be at the forefront of building the next generation of wearable technology.<\/p>\n
Inspecs has also announced that Qualcomm Technologies has bought just over 7.5m shares in the business with the $10m (\u00a37.5m) raised to be used to support the Inspecs\u2019 growth and for working capital.<\/p>\n
Qualcomm Technologies, a subsidiary of the wider Qualcomm group, designs and builds hardware, software and systems for mobile networks, smart devices, computing and AI.<\/p>\n
It has already developed a range of smart eyewear platforms under its Snapdragon brand which feature AI, audio, communications and what it calls “advanced perception”.<\/p>\n
According to Qualcomm, its Snapdragon AR1 Gen 1 is the first dedicated processor optimised entirely for smart glasses.<\/p>\n
This enables eyewear firms and tech companies to build “stylish, handsfree glasses that transform how people capture, share, and get real-time assistance”, Qualcomm says.<\/p>\n
Inspecs Group founder Robin Totterman said: “For many years we have believed that smart eyewear is the next frontier for wearable technology and we are delighted to be partnering with Qualcomm Technologies today to deliver on our ambitions.<\/p>\n
\u201cWe believe this investment and strategic collaboration will accelerate adoption in a category that is about to scale rapidly, and position Inspecs and Qualcomm Technologies among leaders in the industry.”<\/p>\n
Ziad Asghar, senior vice president and general manager of XR, wearables and personal AI, Qualcomm Technologies, added: “Qualcomm Technologies’ collaboration with Inspecs reflects our focus on enabling a new generation of personal AI devices across industries such as enterprise, healthcare and industrial applications.<\/p>\n
\u201cWe’re also pleased that Inspecs will be the first partner to adopt our Snapdragon START program, helping bring smart glasses to market that fit naturally into everyday life-blending timeless design with powerful, intuitive technology.”<\/p>\n
Inspecs was launched in London in 1988 by former international investment banker Totterman after he failed to find a pair of glasses he liked.<\/p>\n
The business later relocated to Bath and grew rapidly through acquisitions – including the purchase of historic Gloucester-based spectacle lens firm Norville and German eyewear supplier Eschenbach.<\/p>\n
Today the firm has offices and subsidiaries in the UK, Germany, Portugal, Scandinavia, the US and China \u2013 including Hong Kong, Macau and Shenzhen \u2013 and manufacturing facilities in Vietnam, China, the UK and Italy.<\/p>\n
It was acquired by Johnson, best known as the chairman of PizzaExpress during its rapid expansion in the 1990s, and Livingstone, whose principal business is London & Regional Group, in March following a three-way takeover battle that also included investment group H2 Equity Partners and Italian eyewear group Safilo.<\/p>\n","protected":false},"excerpt":{"rendered":"
Group has also raised $10m from Qualcomm Technologies to support its growth<\/p>\n","protected":false},"author":272345,"featured_media":42033,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7,47995,50204],"coauthors":[137101],"class_list":["post-42032","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-manufacturing","category-retail","category-technology","tag-bristol-and-bath","tag-featured-story","tag-south-west"],"yoast_head":"\n