US-based computational holographic technology developer CY Vision has closed a $7m series A round led by home and professional appliances manufacturer Vestel through corporate venturing subsidiary Vestel Ventures.
Vestel Ventures, a subsidiary of Vestel’s technology investment arm Zorlu Holding, was joined by Intel Capital, the corporate venture capital vehicle for semiconductor technology producer Intel.
Spun out of Instanbul’s Koc University in Turkey in 2016, CY Vision has developed a holographic display platform for use in augmented reality (AR) and virtual reality (VR) applications.
The technology is intended to eliminate problems and limitations of current AR and VR hardware, such as bulky glasses, motion sickness and a limited field of view. The funding will be used to continue developing the technology.
Intel Capital president Wendell Brooks said: “At Intel, we believe virtual and augmented reality has the potential to redefine human-computer interaction, changing the way we live, work and play. CY Vision’s holographic technology has great potential to play a vital role in the development of the broader ecosystem.”