Meta acquires Dutch startup Luxexcel as it doubles its metaverse dream in 2023

Meta (formerly Facebook) has announced its acquisition of 3D smart glass maker Luxexcel as it doubles down on its metaverse dream in 2023.

The Dutch startup specializing in smart eyewear can integrate the elements needed to create an augmented reality (AR) experience within a prescription lens, such as holographic film and projectors, The Verge reported.

However, Meta did not disclose how much it spent on the acquisition of Luxexcel.

In a statement, the company said they are excited that the Luxexcel team is finally joining Meta.

The purchase is expected to deepen the existing partnership between the two companies, it added.

The acquisition of Luxexcel was made as Meta faces regulatory scrutiny from the Federal Trade Commission over its purchase of Supernatural developer Within.

The agency sued Meta to block the deal as the social media giant also faces criticism over its expenditures to further its metaverse ambitions.

Luxexcel, that was funded in 2009, started as a prescription lens manufacturer.

The company has since continued its growth and just recently, it made a name for itself in the augmented reality space. Its 3D printed prescription lenses can now be used inside AR glasses.

In 2021, Luxexcel partnered with WaveOptics that provides the displays for Snap’s Spectacles.

Meanwhile, Meta has announced its plan to already shut down its video calling smart display ‘Portal’ and its two still unreleased smartwatch projects after the company also eliminated 11,000 jobs.

Meta Founder and CEO Mark Zuckerberg said that the their new high-end VR headset would deliver high-resolution mixed reality to blend virtual objects into the physical environment around the users.

“Our goal for the Quest Pro line over the next several years was to enable more and more people to get their work done in virtual and mixed reality even better than they could on PCs,” Zuckerberg said at the company’s earnings call.

However, reports say that Meta continuous to struggle to gain and keep users on its social virtual reality (VR) platform called Horizon Worlds, its biggest bet to fulfill its $10 billion metaverse dream.