News: AR Startup Avegant Shuffles Leadership, Cuts Staff, Report Says

AR Startup Avegant Shuffles Leadership, Cuts Staff, Report Says

Augmented reality hardware maker Avegant has reportedly laid off between 20 and 30 employees, with founder Edward Tang returning to the CEO role at the company.

Citing unnamed sources, The Verge reported on Saturday that Avegant reduced its staff last month to 20 employees, mainly in research and development.

Avegant found & CEO Edward Tang. Image by Avegant/Vimeo

At the same time, Joerg Tewes stepped aside as CEO after more than three years of service. Previously, Tang sat at the head of the table for the company's first two years in business before Tewes took over the position, with Tang serving as chief strategy officer.

Rather than build its own AR devices, Avegant is focusing on providing development kits for its light field displays to companies looking to build headsets. The light field technology, similar to what Magic Leap uses, is capable of displaying holographic content at varying focal depths for a greater sense of realism to the viewer.

While Tang did not comment on the layoffs, he did confirm the change in leadership to The Verge, stating that the company's mission has not changed. He also divulged that the company is in the process of closing a $10 million funding round.

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Cover image via Avegant/Vimeo

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