Meta Invests in Optics Gary Sharp Innovations for Better Outcome: Metaverse

Meta is still investing in Metaverse ambitions and has just bought optics firm Gary Sharp Innovations. The company has seen losses in the billions of dollars in the past, but now will be able to create better VR headsets and AR glasses with the help of Colorado-based optics R&D.

Meta and Gary Sharp Innovations entered into a share purchase agreement in June, according to a newsletter that includes documents that were filed with the US Patent and Trademark Office. "Gary Sharp Innovations is helping us develop better viewing optics for our AR and VR devices," is also mentioned.

The company will have access to multiple patents and patent applications as a result of the Meta acquisition, "including some that describe methods for improving the optics of VR headsets."  "Meta hired at least a portion of the startup's staff in addition to IP."

There needs to be more clarity regarding the financial aspects of the startup's acquisition. In the second quarter of 2022, Meta spent $301 million to establish Reality Labs, the company's division that produced hardware and software for virtual reality (VR) and augmented reality (AR).

Meta's previous metaverse projects

The Facebook-owned company that makes smart glasses with 3D-printed prescription lenses acquired Luxexcel last month as part of its efforts to expand into the augmented reality (AR) market.

The Verge reported that Luxexcel's head of financial communications, Ryan Moore, stated, "We're excited that the Luxexcel team has joined Meta, deepening the existing partnership between the two companies."

Onward, a virtual reality game, was developed by Downpour Interactive, which Meta acquired in April. It acquired BigBox VR, which produced Population: One.

In a blog post published last year, Meta CTO and Reality Labs CEO Andrew Bosworth stated that "about half" of Reality Labs' operating costs are devoted to the creation of augmented reality (AR) experiences, with the remainder going toward the creation of virtual reality (VR) products.

According to Bosworth's statement in the post, "It's a level of investment we believe makes sense for a company committed to staying at the leading edge of one of the most competitive and innovative industries on the planet."