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Google Ventures teams up with two firms to fund Google Glass startups

11 Apr 2013

glassesGoogle’s ventures arm has teamed up with two other venture capital firms to support entrepreneurs developing applications and hardware for Google Glass.

Google, Andreessen Horowitz and Kleiner Perkins Caufield & Byers – known as the Glass Collective – will provide seed funding to “entrepreneurs in the Glass ecosystem to help jumpstart their ideas”.

Google Glass is a wearable computing device that is expected to go on sale later this year. The device lets users see a computer screen in front of their eyes and is controlled by voice.

The Glass Collective members will invest individually or collectively out of their existing funds.

The firms did not say how much they’re going to invest per project and how many businesses they are looking to support.

Google Ventures partner Bill Maris said the two firms regularly invest alongside Google, according to Reuters.

Andreesen has recently led a $10.3m financing round for US beauty brand Julep Beauty and a $30m Series B investment round for DataGravity, an early-stage company that says its mission is to turn data into information.

Some of Kleiner’s recent deals included participation in third-party big data company Miaozhen Systems’ $10m Series C financing round.

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