Helsinki-headquartered Basemark has raised €22mn to bring its augmented reality (AR) “toolkit” to automakers across the globe.
Basemark’s software, dubbed Rocksolid AR, is an AI-based computer vision system that enables carmakers to develop their own AR applications for Heads-up Displays (HUDs).
Car companies are embracing AR HUDs as a means of relaying important information to the driver. Instead of having to look down at a screen, HUDs project real-time driving guidance, alerts, and other information onto the windshield.
Many cars on the road already use this technology, but it is getting more and more advanced each year. It’s designed to improve situational awareness and overall safety while driving.
The adoption of AR HUDs comes as the automotive industry pushes into advanced driver assistance systems (ADAS) and other forms of autonomous driving. Polestar, for instance, last year announced the inclusion of “hands-free, eyes-off driving” tech in its Polestar 4 SUV.
“Augmented reality serves as an integral component of the Software Defined Vehicle megatrend that is guiding the automotive industry toward full autonomy,” Remy de Tonnac, senior partner at ETF Partners, one of Basemark’s new investors.
Basemark will use the fresh capital to deepen its business with carmakers in Europe and the US and fund its international expansion to Japan, China, and South Korea.
The company secured its first series production deal with an OEM in the US last year. Existing customers include “well-known” OEMs and Tier-1 companies from Germany, France, Italy, and UK — but it’s not naming names.
This latest funding round brings Basemark total raised to €34mn since it was founded in Helsinki in 2015. Alongside the ETF, investors include Finnish Industry Investment (Tesi), Constructor Capital, Business Finland, and the European Innovation Council.