Aussie technology company Bandai, has secured $300million in funding from a group of investors led by venture capital firm Sequoia Capital.
Bandai is building a data-driven augmented reality platform for the home and connected vehicles.
Bandainos chief executive officer, Tony Sohn, said Bandai had successfully applied for funding from Sequoias investment arm, Sequoian Capital.
“We have developed a smart wearable for the consumer, and have the right team in place to execute on the project,” Sohn said.
“This will be the first major project that Bandai has ever done.”
Bandai, which makes a range of home appliances and has partnerships with many Australian manufacturers, is building its wearable with the help of technology firm ARCore.ARCore, a US firm that has invested in companies including Microsoft, Google, Samsung and LG, is the main funding round behind Bandai’s $300m funding.
Bandage is a home security camera with an app that can capture images of any object in your house.
Bandages cameras and the bandages app can be used to take snapshots of your home and share them with friends or family.
Bandaged items, which are the items bandages attach to your skin, are also part of the product, and the camera and app can also be used in the home.
Bandaids camera can record a picture of anything that is attached to your body, including your clothes, hair, footwear, jewelry and any objects that are not bandaged.
“Bandai’s technology will enable us to connect with people with a wide range of wearable technologies,” Bandai chief executive Tony Soh said.
“The ability to capture and share our data with others will open the door to a whole new world of connected devices.”
Sohn said Bandages wearable was expected to be released in 2017.
“Our goal is to have the first fully wearable product available to consumers in 2017,” Soh added.
The Australian company has been working on its technology since 2011.
Bandari’s product was designed and developed by Bandai for the military.
Bandaria had previously been developed by the Australian National University, which is the largest employer in the country, with more than 100,000 people employed there.
Bandarell is also the brains behind a range for wearable cameras in the United States, with a research centre at the University of Southern California.