Smart glass lens and AR (augmented reality) display developer Dispelix has raised EUR 28.4 million in growth funding in a Series B round. With the funds, the Espoo-based company can continue to further develop its waveguide technology that enables the thinnest and lightest of lenses and displays in the world. The company can now also expand its customer base to include more original equipment manufacturers and start working on mass production to customers.
The round was led by Atlantic Bridge, a global investor hailing from Ireland, while CCB Trust Flashpoint entered as new investors. Existing investors Lifeline Ventures, VTT Ventures, 3M Ventures and Tesi (Finnish Industry Investment Ltd) participated, as well.
“As virtual remote working increases in the future, physical location loses its relevance. The need to collaborate and brainstorm with our co-workers, partners and customers still remains. This ‘metaverse’ to happen, superior AR-glasses, VR-headsets and virtual software platforms are needed. This is where Dispelix and its solutions come into picture. The company plays an important role in enabling businesses stay productive and competitive. Also, less work-related travelling means less emissions. Attracting the talents globally is easier, as well, since they can work remotely”, comments Keith Bonnici, Investment Director on Venture Capital team at Tesi. “For these reasons Tesi actively invests in companies like Dispelix and Varjo Technologies, that make Finland one of the global forerunners in ‘metaverse’ development.”
Tesi made its first investment in the company in 2018. Altogether, Dispelix has raised EUR 43.2 million in growth funding so far.
Keith Bonnici, Investment Director, Venture Capital investments, Tesi
+358 40 1799 584
Dispelix is a global leader in Augmented Reality Waveguide Displays. Dispelix is a fabless company specializing in the design, development and mass manufacturing of diffractive waveguides for use in Augmented and Mixed Reality glasses and headsets. Our solutions revolutionize industrial and consumer AR wearables for today and our vision answers to the future demands of our customers and partners. With our answer to customized waveguide displays and licensing, we turn your AR wearable visions into reality. Founded by visionary experts, we hold the key to customers that develop game-changing products for fast-evolving AR eyewear markets. www.dispelix.com
Tesi (Finnish Industry Investment Ltd) is a state-owned investment company that wants to raise Finland to the front ranks of transformative economic growth by investing in funds and directly in companies. We invest profitably and responsibly, hand-in-hand with co-investors, to create the world’s new success stories. Our investments under management total 2.1 billion euros. www.tesi.fi | @TesiFII