Investments in companies - 2.11.2018
Dispelix Ltd, the designer and manufacturer of its proprietary see-through displays for Augmented Reality, announces today the €12 million funding round from Lifeline Ventures, VTT Ventures, Finnish Industry Investment, 3M Ventures and an undisclosed investor. Earlier in 2016, Dispelix raised €1.7 million from Lifeline Ventures and VTT Ventures as a spin-out from VTT Technical Research Center of Finland.
“Our see-through display technology is now ready for the mass production ramp up. This is a remarkable milestone in product and process development. Unlike our competitors, we have chosen an approach based on using only one waveguide. Based on our ultra-thin display technology, it is possible to design AR glasses that are attractive in design and appeal to mainstream consumers”, comments Antti Sunnari, CEO and Co-Founder of Dispelix Ltd.
“Although the Dispelix see-through display is the thinnest on the market, we have not compromised the image quality: both eye-box and field-of-view are large, resolution is high and color balance is excellent. In addition, our technology platform enables mass customization of displays according to the individual needs of our customers”, comments Juuso Olkkonen, CTO and Co-Founder of Dispelix Ltd.
“Before Dispelix, Augmented Reality optics have been too bulky to wear, too costly to be embedded in consumer products and too difficult to manufacture in large volumes. Dispelix is the next generation that enables real growth in the industry”, comments Jyrki Saarinen, chairman of the board, professor and optics entrepreneur.
The Dispelix technology is currently being embedded into increasing number of customers’ products under development. The respective announcements are expected in 2019.
Antti Sunnari, CEO and Co-Founder
Keith Bonnici, Investment Director, Tesi
+358 40 179 9584
About Dispelix Ltd
Dispelix Ltd (http://www.dispelix.com) is the producer of high performance Augmented Reality see-through displays from high-end industrial applications to mass-market consumer products, thanks to manufacturing scalability and the resulting price points. The Augmented Reality technology by Dispelix is a result of five years of optics and manufacturing science and research at VTT Technical Research Centre of Finland, further developed by Dispelix since 2015. More information: www.dispelix.com
About Lifeline Ventures
At Lifeline Ventures, we invest in strong founders in sectors we know by heart from our experience as entrepreneurs. Due to our background, we often start working with founders before they have launched their first product. Our goal is to be the first person the entrepreneur reaches out to in times of trouble and joy. So far, we have invested in category-leading companies such as Applifier (acquired by Unity 3D), Enevo, NonStop Games (acquired by King.com), Moves app (acquired by Facebook), Supercell (acquired by Tencent), Umbra 3D and ZenRobotics. More information: www.lifelineventures.com
About VTT Technical Research Centre of Finland and VTT Ventures
VTT Technical Research Centre of Finland Ltd is one of Europe’s leading research, development and innovation organisations. We help our customers and society to grow and renew through applied research. The business sector and society in general benefit most from VTT when we solve challenges requiring world-class know-how together, and convert them into business opportunities.
VTT Ventures is the venture arm of VTT with 20 companies in its portfolio. It spins out and invests in the most promising VTT technologies with strong founders. More information: www.vttventures.fi
Tesi (Finnish Industry Investment Ltd) is a venture capital and private equity company that accelerates companies’ success stories by investing in them directly and via funds. Tesi always invests together with other investors, providing them with access to high quality deal-flow in Finland. Our investments under management total €1.2 billion and we have altogether 700 companies in portfolio. www.tesi.fi, www.dtg.tesi.fi and @TesiFII