Telepathy, a Silicon Valley startup, has raised $5 million in a first round of funding to develop wearable computing technology that rivals Google Glass.
"Wearable technology will enable the next wave in social networking," Telepathy CEO Takahito Iguchi said in a statement. "The $5 million funding will enable us to enrich the user experience of Telepathy One, which we expect to bring to market in 2014."
Firsthand Technology Value Fund led the series-A investment, Telepathy said. With the money, the Sunnyvale, Calif.-based startup plans to hire new hardware and software engineers.