TriLite, a developer of what it calls the world's smallest projection display, has raised €8 million in a new round of funding, enabling its customers to bring mass market augmented reality eyewear to the market.
The participants in the funding round included APEX
Ventures, B&C Innovation Investments, Hermann Hauser Investment, TEC Ventures
and QC·Ventures amongst others. It follows an earlier seed
funding round in December 2019.
TriLite’s projection displays are
suitable for AR and MR applications, enabling AR/MR glasses
to finally overcome the bulkiness and weight that has
so far prevented their mass market adoption.
Worldwide shipments
of head-mounted displays (HMDs) are forecast to grow at
an annual rate of 60% CAGR between 2020 and 2027.