Avegant, a manufacturer of near-eye displays, said it has received $24 million in venture capital funding to develop next-generation wearable displays.

Provided by Hangzhou Liaison Interactive Information Technology Co. Ltd., Intel Capital, NHN Investment Co. Ltd. and the Bunting Family Fund, the funding will allow Avegant to accelerate development of retinal imaging technology for use in future personal displays.

The capital will also be used to launch its flagship personal media player, Glyph. The device was developed using patented micromirror display technology.

"We are redefining how entertainment will be consumed, delivering richer, more immersive experiences for both existing content and new media," said Avegant CEO Joerg Tewes.

Avegant is a consumer electronics and imaging technology manufacturer that uses micromirror arrays to create vivid, pixel-free images for applications in the mobile media consumption and virtual and augmented reality fields.

For more information, visit www.avegant.com.