Helsinki-based Distance Technologies Ltd, a developer of glasses-free mixed reality technology for the automotive, aerospace, and defence industries, announced on Tuesday, September 24, that it has closed a €10M seed funding round.
The round was led by GV (Google Ventures), with FOV Ventures and Maki.vc also participating.
Roni Hiranand, Principal at GV, says, “We believe that Distance has the potential to revolutionise experiences across a range of verticals and drive disruption in multiple industries. 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.”
Prior to the current seed funding round, Distance Technologies secured $2.7M in its pre-seed round three months earlier.
What does Distance Technologies offer?
Distance Technologies has developed a solution that transforms transparent surfaces, such as windows and windshields, into glasses- and headset-free portals for mixed reality experiences.
Using a computer-generated 3D light field, the technology provides infinite per-pixel depth and full-field immersion without the need for wearable devices. This approach delivers mixed reality content with natural clarity, reducing eye strain and enhancing user comfort.
Urho Konttori, CEO and co-founder of Distance Technologies says, “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, defence and aeronautics.”
“It’s so energising to work with GV that recognises 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.”
The company made its public debut at the Augmented World Expo USA 2024, where it demonstrated a proof-of-concept to industry recognition.
Its glasses-free mixed reality has the potential to enhance views with dynamic content, including situational data and location-specific information, all “seamlessly” integrated into real-world environments.
This innovation aims to enhance various applications, such as improving the driving experience and increasing situational awareness for pilots while integrating visual AI into everyday life.
The technology achieves pixel-perfect depth control, allowing virtual content to appear at any distance across the entire field of view, without the need for headsets or wearables. The company envisions to bridge the gap between the physical and digital worlds.
Distance Technologies’ solution is being evaluated by next-generation automotive OEMs for use in windshields and windows, while defence contractors and aviation companies explore its potential for military and commercial cockpits.
The technology integrates AI data streams, providing actionable insights to operators in both the automotive and defence sectors through an advanced human-machine interface.
According to the company, the name “Distance* represents its mission to inspire global movement and bridge the gap between humans and technology, the present and the possible, as well as the visible and the invisible.
Brief about GV
GV, formerly known as Google Ventures, invests in innovative startups across sectors including life sciences, consumer, enterprise, crypto, climate, and frontier technologies.
Backed solely by Alphabet, GV operates with a long-term investment approach, providing startups with support in design, talent, diversity, and engineering. GV also facilitates access to Google’s technology and expertise.
Founded in 2009, the firm manages over $10B in assets and has a portfolio of 400 active companies in North America and Europe. Its investments include Uber, Nest, Slack, and GitLab. GV is headquartered in the San Francisco Bay Area, with offices in Cambridge, New York, and London.