In General XR News
November 7, 2024 – AllFocal Optics, a deeptech startup that creates nanophotonic lens technology for always-in-focus images, has announced fresh USD $5.3 million funding, comprised of a USD $3.6 million (GBP £2.8 million) equity raise, led by SpeedInvest, and Innovate UK grants.
AllFocal Optics stated that the new investment will help to put the company on track to deliver ultra-thin lenses that can recreate human vision for an enhanced and more comfortable viewing experience across smart glasses, head-up displays (HUDs), immersive gaming, and more.
One such automotive HUD use case for the company’s technology is already set to undergo a trial that will take place early next year in partnership with Jaguar LandRover. AllFocal Optics added that it anticipates its lenses will be used in AR glasses and VR headset in the next two years.
According to AllFocal Optics, its thin nanophotonic lenses allow users to visually access virtual information in the real world without the nausea and discomfort typically associated with virtual, augmented and mixed reality (VR/AR/MR – collectively XR). The company stated that the potential its technology has to reduce nausea marks a “significant step in overcoming a critical obstacle to the mass adoption of XR hardware and applications,” even for those users who may require glasses.
Dr Pawan Shretha, AllFocal Optics’ founder and CEO, noted: “Critical to XR’s mass adoption is enabling users to interact with virtual images for as long as they like, without feeling nauseous, and to seamlessly shift focus between physical and virtual environments. Our technology, compatible with LCD, OLED, or any type of display, makes that possible. By projecting a digital image onto a user’s retina, it keeps the image in focus regardless of how the eyes adjust to the surrounding world, completely eliminating any discomfort. After more than a decade of research, we’re now ready to take our technology to market, unleashing possibilities across automotive, medical, engineering industries, and more.”
The Cambridge University spinout’s proprietary technology is built on 10 years of research and development led by Shretha, a former Royal Academy of Engineering enterprise fellow. Additionally, the company announced that Dr. Ash Saulsbury, Former Microsoft VP of Technology, and Artificial Intelligence and Augmented Reality Leader at Meta, has joined AllFocal Optics as company Chair.
The USD $5.3 million seed investment announced this week by the company was led by early-stage venture capital firm SpeedInvest, with support from deeptech and startup experts such as 7PC Ventures (an early investor in Oculus VR), Martlet, Another.VC, Professional football player and business angel Mario Gotze, Maximilian Odendahl (business angel and former CEO of Silexica) and serial entrepreneur Prashant Shah.
Commenting on the investment, Rick Hao, Speedinvest’s deeptech partner stated: “AllFocal has unique technologies that are fundamentally changing the way nanophotonics are designed. Their patented technology is the key enabler for a variety of industries, including smart-glasses, head-up display and defense. We are thrilled to support AllFocal Optics as they push the boundaries of visual technology.”
For more information on AllFocal Optics and its nanophotonic technology for use in XR applications, please visit the company’s website.
Image / video credit: AllFocal Optics
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About the author
Sam is the Founder and Managing Editor of Auganix. With a background in research and report writing, he has been covering XR industry news for the past seven years.