Here's Why Intel Is Betting $25 Million On Google Glass Rival

The Wearables space is getting hotter by the day with more and more tech majors putting their resources into it. Following the footsteps of others who are already in this space, Intel Corporation INTC revealed today that it has bought a 30% stake worth $24.8 million in Google Glass rival, Vuzix.

Vuzix Founder and CEO, Paul Travers, was recently on Bloomberg to discuss what made Intel invest in his company and the company’s smart eyewear products.

Why Intel Invested In Vuzix?

“Well, I can’t really speak to all of Intel’s reasons for investing in Vuzix. I can say that Vuzix is a leader in wearable display tech space and wearable technology is really here today. I mean, it’s happening all over the place and one of the holy grails of this space is wearable display systems, there are so many things you can do with them.  With wearable display that you just cannot do with any other form of wearable technology. The problem is most people don’t want to look like a nerd, with them wearing the wearable display systems and then Oculus is a prime example,” Travers said.

He continued, “You wouldn’t walk down the streets with an Oculus Rift. In fact, even Google Glass has got challenges because you look sort of odd when you are wearing it and the technology that Vuzix has been working on is to further that and to move it so that ultimately these things are going to look like just like a pair of fashion glasses and maybe part of the reason why they have certainly invested in Vuzix because that’s where we are going.