Distance Technologies Closes Oversubscribed €10M Seed Round, Led by GV

In Mixed Reality News

September 27, 2024 – Distance Technologies Ltd, a developer of glasses-free mixed reality (MR) designed for the automotive, aerospace and defense markets, has this week announced that it has closed a Seed round of funding of EUR €10M.

This latest funding comes just three months after the company first emerged from stealth with USD $2.7M in pre-seed funding. This latest seed round was led by GV, with additional investments from FOV Ventures and Maki.vc.

Distance’s technology transforms the entirety of any transparent surface into a glasses- and headset-free window for experiencing mixed reality—all through a computer-generated 3D light field that mixes with the real world. Content covers the entire field of view for maximum immersion and the hardware is completely non-reliant on anything worn on the user’s face or body.

Users need to simply look through a windscreen or a window to see MR content, all thanks to Distance’s patented, per-pixel optical depth capability, which offers “infinite per-pixel depth,” according to the company.

Distance first emerged from stealth in June this year, showcasing a proof-of-concept for its first commercial product. Its glasses-free mixed reality solution means that any view within a window, windshield or cockpit can now be enhanced with any computer-generated visual content or alphanumeric information.

This mixed reality content can include a wide range of situational analyses and information unique and specific to that location or geospatial coordinate – all appearing completely natural and “in-situ”.

“We believe that Distance has the potential to revolutionize experiences across a range of verticals and drive disruption in multiple industries,” said Roni Hiranand, Principal at GV. “Distance offers an open ecosystem, allowing manufacturers and integrators to supercharge the fusion of the physical and digital worlds in various applications. We’ve been impressed with how fast the team has moved to develop the technology, and we’re thrilled to support them as they look to deploy across these critical sectors.”

With Distance’s technology designed for integration into next-generation automotive platforms as well as defense systems, its technology demonstrator is already under evaluation by several leading automotive OEMs for potential use in both windshields and windows, according to the company.

Distance added that Tier-1 defense contractors and aviation companies are also exploring the adoption of its technology into commercial and military cockpits as well as vehicles. Moreover, Distance added that its solution can seamlessly integrate growing data streams from various AI systems in both defense and automotive industries, translating them into actionable insights for human operators through the technology’s human-machine interface.

“Our vision has always been to bring the power of mixed reality everywhere, whether you can wear a headset or not, making it a transformative and accessible experience across a wide range of industries – ranging across automotive, defense and aeronautics,” said Urho Konttori, CEO and co-founder of Distance Technologies Ltd. “It’s so energizing to work with GV that recognizes this potential, not only by investing in our company, but by leading their first country investment through Distance. Their decision to lead the round is a profound endorsement of our technology, our team, and our mission to impact billions of lives by seamlessly integrating this breakthrough technology into everyday experiences.”

For more information on Distance and its headset-free mixed reality technology, please visit the company’s website.

Image / video credit: Distance