Published in News

Money appears for Glass start-ups

by on11 April 2013

Venture capitalists see gold

Venture firms Andreessen Horowitz, Google Ventures, and Kleiner Perkins Caufield & Byers are teaming up to provide funding for startups working with Google Glass. They think that there is a lot of dosh to be made for the project and want to make sure that startups have the cash to get products out there.

Bill Maris, partner at Google Ventures said that there was potentials for a dramatic change in technology, like there was when they stuck browsers on PCs. Having three venture capital firms involved in Google Glass will increase the chance of the project’s success. Google Ventures already regularly co-invests with Andreessen and Kleiner, Maris said.

Kleiner was an early backer of Google and thinks that there should be no shortage of developers willing to experiment with the technology. He created a $200 million iFund five years ago to back entrepreneurs building applications and services for iPhones, iPods, and iPads.

Google Glass can live-stream images and audio and perform computing tasks through a stamp-sized electronic screen mounted on the side of a pair of eyeglass frames. It can also record video, access email, and retrieve information from the Internet. Google Glass will become more widely available later this year, Google has said, including a version that will work with eye wear prescriptions.

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