Augmented reality startup Mira announces $10M more in funding from Sequoia and others

Published July 23, 2020

The last few years haven’t proven too friendly to hardware companies in the augmented reality world. Enterprise-centric efforts like ODG, Daqri and Meta flared out, Magic Leap raised massive amounts of cash only to scale back its dreams this year in the face of looming disaster and just about every other hardware player has suffered some form of an identity crisis. As someone who covers the space closely, this has led me to keep an eye on companies I’ve covered that seem to have been a bit quiet.

Over the past three years, every few months or so, I’d check in on the AR startup Mira just to see if they had any updates. I met with them in 2017 after they announced they’d raised funding from Sequoia, notable as one of that firms few public AR/VR investments. Back then, Mira pitched its device as a Google Cardboard for AR, something that could give people a lightweight introduction to the world of augmented reality. They teased both workplace and at-home use cases, but there was an early skew toward approaching developers building consumer apps.

Over on Extra Crunch, read about why the first wave of AR hardware companies died and what the next generation of startups need to do to succeed.

The company has been keeping a pretty low profile since it publicly launched in 2017, but they’re finally ready to give some updates.

Mira now tells TechCrunch that they’ve raised about $10 million worth of funding over a few top-ups, which the team is collectively deeming as a seed extension round. Sequoia and SF-based Happiness Ventures led these financings, of which the startup did not break out the specific terms. The team has now raised just under $13 million to date. Mira has used this cash to refocus its business and refine its hardware.

By late-2018, the founders had decided to move their focus solely toward industrial rollouts of their headset.

“As we looked across the consumer landscape, as we looked across the industrial landscape, as we looked across government, it became very clear that where that value-driven use case is ripe today is much more in the industrial landscape,” Mira co-founder and COO Matt Stern told TechCrunch in an interview.

Photo via Mira.

The company’s Prism Pro headset sidesteps the technical complexity that has been a major stumbling block for previous entrants in the space that have struggled with their devices holding up in the field. Mira’s device is about as simple as the task requires, integrating a slot-in design for users to pop in an older-generation iPhone and physically connect it to a head-mounted camera that allows workers to scan items and markers. There are a number of advantages to this type of device. It’s cheaper, it’s simpler to operate and it’s easier to integrate into a company’s enterprise device management structure.

Compared to the experience a worker might get with a HoloLens, there’s a much lower ceiling to the capabilities of these devices. The Prism Pro hardware eschews what some consider “true AR” capabilities, dumping spatial tracking and mapping, and opting instead to augment your vision with a heads-up display window. The added camera is for scanning items, not generating depth maps so that holograms can be projected onto a space’s geometry, i.e. there are no floating whales to be had here. This isn’t a dramatic rethinking of the future of work so much as it’s a rethinking of form factors already being used; it’s a tablet for your face that you can control with taps and your gaze.

The AR world is still certainly a rough place to be building a startup, but Mira’s founders feel good about where the company has ended up after refocusing on manufacturing, especially within the competitive landscape.

“I can’t confirm this because I don’t work at Magic Leap, but we have literally onboarded more customers to our platform that are using our device every single day than companies like Magic Leap that have raised literally hundreds of times our funding,” CEO Ben Taft tells TechCrunch. “And it’s just been by trying to grow a business in a conservative manner and actually keeping up with the rate of adoption.”

Mira AR headset startup grabs $1M in new funding led by Greylock

Meet the five Startup Battlefield finalists at Disrupt SF 2018

Published September 7, 2018

Over the past two days, 21 companies have taken the stage at the Disrupt SF Startup Battlefield. We’ve now taken the feedback from all our expert judges and chosen five teams to compete in the finals.

These teams will all take the stage again tomorrow afternoon to present in front of a new set of judges and answer even more in-depth questions. Then one startup will be chosen as the winner of the Battlefield Cup — and they’ll also take home $100,000.

Here are the finalists. The competition will be livestreamed on TechCrunch starting at 1:35pm Pacific on Friday.

CB Therapeutics

CB Therapeutics is a new biotech company that aims to change the game with cannabinoids produced cleanly and cheaply in the lab, out of sugar. What it’s done is bioengineer microorganisms — specifically yeast — to manufacture cannabinoids out of plain-old sugars.

Forethought

Forethought has a modern vision for enterprise search that uses AI to surface the content that matters most in the context of work. Its first use case involves customer service, but it has a broader ambition to work across the enterprise.

Mira

Mira is a new device that aims to help women who are struggling to conceive. The Mira Fertility system offers personalized cycle prediction by measuring fertility hormone concentrations in urine samples, telling women which days they’re fertile.

Origami Labs

Origami Labs wants to bring voice assistants right to your ear without requiring you to wear a device like a Bluetooth headset or Apple AirPods. Instead, the startup is using a ring on your finger combined with bone conduction technology to allow you to use your smartphone’s built-in assistant – whether that’s Google Assistant or Siri – in an all-new way.

Unbound

Unbound makes fashion-forward vibrators, and their latest is the Palma. The new device masquerades as a ring, offers multiple speeds, and is completely waterproof. And the team plans to add accelerometer features.

Mira launches a device for more accurate fertility testing in the home

Published September 7, 2018

Mira, launching today at TechCrunch Disrupt SF 2018, is a new device that aims to help women who are struggling to conceive. The Mira Fertility system offers personalized cycle prediction by measuring fertility hormone concentrations in urine samples, telling women which days they’re fertile. The system is more advanced and accurate than the existing home test kits, the company claims, which can be hard to read and aren’t personalized to the individual.

The company behind Mira, Quanovate, was founded in late 2015 by a group of scientists, engineers, OBGYN doctors, and business execs to solve the problem of the unavailability of advanced home health testing.

“I have a lot of friends who, like me, [prioritized] their career advancement and higher education, and they tended to delay their maternal age,” explains Mira co-founder and CEO Sylvia Kang. “But there’s no education for them about when to try for a baby, and they have no awareness about their fertility health,” she says.

Kang received an MBA at Cornell Johnson, went to Columbia for an MS in Biomedical engineering and received at PhD in Biophysics from University of Pittsburgh, before working as a Business Director at Corning where she was responsible for $100 million in global P&L, which she left to start Mira.

She says that women’s hormones are changing daily, and everyone’s profiles differ due to their lifestyle, stress levels and other factors. The only way to accurately track fertile days, then, is through continuous testing – something that’s been difficult to do at home.

To solve this problem, the team worked to develop the Mira system, which includes a small home analyzer, urine test strips, and an accompanying mobile application. The home analyzer miniaturizes lab equipment for home use, and brings down the cost.

To use the system, the woman places the test strip into the device which then uses immunofluorescence technology to read the results. Currently, the device tests for the presence of luteinizing hormone (LH), which is an indicator of ovulation. However, the company has already has plans to update the device so it can test for other hormones in the near future. (It’s FDA-cleared to detect estrogen, for example, but that won’t be available at launch.)

The system instead is $199 and ships with 10 test strips. After analyzing the strip, information about the hormone levels is displayed on the screen and sent to the Mira app via Bluetooth.

The app offers women more information about what this data means – like whether they should attempt to conceive today or wait. A subscription service will also offer them access to doctors so they can ask questions, but this will be free at launch.

“This technology is completely different from all the test strips on the market. It’s more accurate, but more importantly, this one is quantitative – that means we give you your actual, formal concentrations,” says Kang. “The [existing] tests strips only give you positive or negative. Since we have your numbers, our A.I. can do pattern recognition. Our algorithm prediction is based on your pattern specifically, not the average of all the population.”

What this means, in practice, is that women struggling to conceive will have more accurate, more actionable, and more personalized results with Mira. During a clinical trial with 400 patient samples, Mira reached 99 percent accuracy, compared with lab equipment, the company says. They also have 18 IPs covering hardware, software, database management and more, including utility patents and models, design patents, trademarks and copyrights.

The company is now working on a portal for doctors, so they could access their own patients’ data for further analysis. Mira may also eventually make its collected data, once anonymized, available to researchers, as well. But Kang says no formal decisions have been made on that front yet.

Longer-term, Kang explains that the same system can be adapted to track pregnancy and menopause, and eventually similar technology could be put to use for analyzing other conditions, like those related to kidney problems or the thyroid.

The Pleasanton, Calif.-based company, is currently a team of 36 and has raised $4.5 million from investors including Gopher Ventures, and two other cross-border investors Mira doesn’t want to disclose publicly.

At Disrupt, the company announced the Mira device is now available for pre-order and will begin shipping in October 2018.

It’s sold online via the Mira website, but is in discussions with doctors and retailers to broaden its availability going forward.