Distance Technologies has raised $10 million for its mixed reality solution through a seed round of funding led by Google Ventures.
The mixed reality (MR) developer for the automotive, defence, and aerospace industries can turn any transparent surface into a glasses-free and headset-free window onto which it can project a 3D light for a comprehensive MR experience.
It describes this capability as a “Holy Grail” breakthrough for the industry.
FOV Ventures and Maki.vc joined the technology giant’s investiture arm, Google Ventures, resulting in an “oversubscribed” seed round. Three months ago, the company raised $2.7 million in pre-seed funding.
Roni Hiranand, Principal at GV, foresees Distance making a big impact on the MR space: “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.”
‘Next-Generation’ MR
Distance Technologies’ MR technology uses infinite per-pixel depth, which works entirely independently of any wearable device, phone, or pin.
Instead, you simply need to look with your own eyes at a window, windscreen, or even cockpit to view its ‘stunning’ MR content, reducing eye strain.
This content can include situational analyses and information related to its geographical context while also exhibiting a natural and seamless experience.
Distance first gained recognition for its technology in June when it introduced a proof-of-concept at Augment World Expo 2024.
The “next generation” solution also integrates with data streams from AI systems in the defence and automotive industries, converting them into insights through its human-machine interface.
It is already reportedly being tested by several leading automotive OEMs for possible integration into car windows and windshields.
Tier 1 defence contractors and aviation companies are also investigating the technology’s potential use in military vehicles and cockpits.
Urho Konttori, CEO and co-founder of Distance Technologies, gave his reaction to the successful funding round:
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.”
Earlier this week, Meta showcased its latest XR solutions at Meta Connect, which included the debut of Meta Quest 3S for $299.
The new MR device will feature capabilities such as a high-quality 4K display, a Fresnel lens system, and a full-colour passthrough.
Additionally, the headset will come with specifications such as a Qualcomm Snapdragon XR Gen 2 chipset, 8GB of RAM, hard-tracking, and Touch Plus controllers.
Mark Zuckerberg, CEO and Founder of Meta, also unveiled a prototype for the much-hyped Orion device, a pair of AR smart glasses, which Meta’s CTO Andrew Bosworth discussed in an interview.
