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Finnish startup goes distance with Google Ventures funding
Distance Technologies has developed a way to deliver relevant analytics and information to motorists that does not require them to avert their gaze from the road.
Distance TechnologiesDistance Technologies has become Finland’s first recipient of an investment from Google Ventures, an investment arm of Alphabet.
The Helsinki-based developer of glasses-free mixed-reality technologies announced last month the closing of a 10-million-euro seed-funding round led by Google Ventures, with participation also from FOV Ventures and Maki.vc.
The oversubscribed round was closed only a couple of months after a pre-seed round worth 2.7 million euros.
Distance Technologies has developed a solution for projecting three-dimensional elements on any transparent surface, such as the windscreen of a car or window of a jet cockpit. The solution tracks the eye movements and head position of the operator to ensure the elements – namely, situational analytics and information on traffic and the environment – are projected in the optimal location and at the optimal distance for the operator.
The ability to cover the entire field of view and offer maximum immersion without any wearables is what sets the solution apart from the head-up displays found in some modern-day cars.
“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,” summarised Urho Konttori, CEO of Distance Technologies.
Distance Technologies was founded by Jussi Makinen (left) and Urho Konttori.
Distance TechnologiesKonttori in June revealed that the technology has been received with excitement by automotive manufacturers.
Given its ability to convert any transparent surface into a display, however, business opportunities are expected to be right around the corner also in various other industries – particularly as the markets and technology mature.
The technology has the potential to revolutionise user experiences and drive disruption in multiple industries, Roni Hiranand, principal at GV, stated in September.
“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,” he said.