Finland-based augmented reality technology developer Dispelix has raised €12m ($13.7m) in a series A round backed by 3M Ventures, the corporate venturing subsidiary of manufacturing conglomerate 3M.
VTT Ventures, the investment arm of VTT Technical Research Centre of Finland, also contributed to the round, as did government-owned investment company Finnish Industry Investment, venture capital firm Lifeline Ventures and an undisclosed additional investor.
Founded in 2015, Dispelix has developed transparent, ultra-thin augmented reality displays for use in industrial applications and mass-market consumer products. The technology can be integrated into eyewear and is capable of projecting full colour images.
The company, which was spun out of VTT, said its technology is now ready for mass production and is being embedded into a range of consumer products set to be announced in 2019, though it did not specify exactly how it intends to spend the series A capital.
Dispelix had previously received $1.9m in seed funding from VTT Ventures and Lifeline Ventures in 2016.
The original version of this article appeared on our sister site, Global University Venturing.
