Distance Technologies Closes Oversubscribed €10M Seed Round, Led by GV (Google Ventures)

24 September, 2024 – Helsinki – Distance Technologies Ltd — a pioneering developer of glasses-free mixed reality designed for the automotive, aerospace and defense markets and empowering users with contextual AI – today announced it has closed a Seed round of funding of €10M. This is a mere three months after closing $2.7M in pre-seed funding, showing exceptional interest in the company, its unique technology and overall value proposition. GV led this seed round, with additional investments from FOV Ventures and Maki.vc.

Distance transforms the entirety of any transparent surface into a glasses- and headset-free window for experiencing the next-generation of mixed reality — all through a computer-generated 3D light field that seamlessly mixes with the real world. Offering infinite per-pixel depth and covering the entire field of view for maximum immersion, it is completely non-reliant on anything worn on the user’s face or body.

Simply look through a windscreen or a window to see stunning mixed reality content with crystal clarity and perceived as completely and profoundly natural — all thanks to Distance’s patented, groundbreaking per-pixel optical depth capability. All of this is achieved without a headset, a phone, a pin, a device or glasses – just through your own eyes and all without eye strain.

Distance first emerged from stealth at Augmented World Expo USA 2024 in June, showcasing a proof-of-concept for its first commercial product to industry acclaim. Long considered a “Holy Grail” moment for the industry, glasses-free mixed reality means that any view within a window, windshield or cockpit can now be enhanced with any computer-generated visual content or alphanumeric information.

This mixed reality content can include a wide range of situational analyses and information unique and specific to that location or geospatial coordinate - all appearing completely natural and “in-situ”.

Designed for integration into next-generation automotive as well as the most advanced, state-of-the-art defense systems, this technology demonstrator is already under evaluation by several leading automotive OEMs for potential use in both windshields and windows. Meanwhile, Tier-1 defense contractors and aviation companies are also exploring the adoption of Distance technology into commercial and military cockpits as well as vehicles. Moreover, Distance seamlessly integrates the growing data streams from various AI systems in both defense and automotive industries, translating them into actionable insights for human operators through its next-generation human-machine interface.

Quotes:

"We believe that Distance has the potential to revolutionize experiences across a range of verticals and drive disruption in multiple industries," said Roni Hiranand, Principal at GV. "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."

“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, defense and aeronautics,” said Urho Konttori, CEO and co-founder of Distance Technologies Ltd. “It’s so energizing to work with GV that recognizes 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.”

About Distance Technologies:

Distance Technologies Ltd (Helsinki) is pioneering the world’s first true glasses-free XR solution, made for the automotive and aerospace sectors and extending beyond. Distance can transform virtually any transparent surface into a window for extended reality with a computer-generated 3D light field that mixes with the real world, offering flawless per-pixel depth and covering the entire field of view for maximum immersion. This integration brings together the synthetic and real worlds into a seamless whole, designed to blend naturally into our daily journeys – all without the need for bulky headsets or other wearable hardware.

With its groundbreaking technology, Distance is paving the way for wider adoption of contextual AI in everyday life. Our name, Distance, reflects our mission: to inspire the world’s movement and bridge the gap between humans and technology, the present and the possible, the visible and the invisible. Learn more at https://distance.tech.