Benzinga | Mar 2, 2021 11:46AM EST

Vuzix Invests In Ox Fulfillment Solutions For Supply Chain Optimization

* Smart Glasses and Augmented Reality (AR) technology and product supplier Vuzix Corporation (NASDAQ: VUZI) disclosed its involvement in a private seed investment round announced by supply chain and order fulfillment software provider Ox Fulfillment Solutions (formerly Oculogx).

* The investment round led by MaC Venture Capital and Cortado Ventures included a minority investment from Vuzix.

* Ox plans to utilize the funding towards investment in partnerships and support operational expansion to assist supply chain optimization using machine learning in large retail firms.

* Ox's team and innovative hands-free smart glasses-based augmented reality order management system will help retailers in faster order pick up and ensure higher accuracy than incumbent technology, as per Vuzix CEO Paul Travers.

* Price action: VUZI shares are down 2.58% at $22.98 on the last check Tuesday.