If you're hoping for Apple Glass, good news: Apple has poured a lot of money into a company that could help develop smart glasses.

II-VI, a Texas-based optical technology manufacturer, will receive a $410 million investment from Apple. While Apple's announcement does not detail what will be produced as a result of the investment, the money will be used to significantly expand the number of companies with the know-how to support augmented reality projects.

You probably don't know what II-VI Inc. is, but you are aware of its accomplishments. The company's vertical cavity surface emitting lasers (VCSELs) are responsible for Apple's Face ID and LiDAR sensors. They help perform functions like Memoji, Animoji, selfie portrait mode, low-light autofocus, and perhaps most relevantly, AR apps.

This is not Apple's first investment either, having paid $390 million in 2017 to Finisar, now part of II-VI. This is the same fund that supported Apple's partnership with glass manufacturer Corning to develop the Ceramic Shield display featured in the iPhone 12 series.

Augmented reality is still an immature technology, but manufacturers, including Apple, are investing huge sums in its research. Rumors of Apple's Apple Glass and its mixed reality headset have been swirling for some time, but both are still a year or two away from actually appearing. Investing in a company that specializes in 3D sensors for mobile devices seems like an important step in the continued development of these and future AR/VR products.

Apple Glass is expected to be a new type of accessory for the iPhone, putting information from the device in front of the eye and allowing it to be manipulated with gestures. However, the mixed reality headset is thought to be aimed at a more specialized audience, and developers will help create apps that can be used with AR Glass that are more user-friendly for the average customer.