Basemark, a software company specializing in Augmented Reality for the automotive industry, secures €22 million in funding.
This week, Basemark, a company that offers automotive augmented reality (AR) software to help car manufacturers create AR applications, announced that it has secured EUR €22 million in series B funding. This brings the total amount of funding raised by the company to EUR €34 million.
Can you provide information about the investors involved in this particular funding round?
The round was a combination of equity, grants, and loans, and was led by ETF Partners, with additional funding from Finnish Industry Investment (Tesi), Constructor Capital, Business Finland, the European Innovation Council, and private investors.
Remy de Tonnac, Senior Partner at ETF Partners, commented on the investment, stating that in the future, with the increasing prevalence of autonomous cars, there will be a notable decrease in the overall number of vehicles on the road, with a majority of them being electric. This shift will contribute to a significant reduction in emissions. The use of augmented reality plays a crucial role in this transformation, as it is an essential part of the Software Defined Vehicle megatrend that is leading the automotive industry toward complete autonomy. Basemark, being at the forefront of the AR/VR HUD technology revolution, is in an ideal position to assist OEMs in creating safer, more sustainable, and more enjoyable driving experiences for everyone.
What do vehicle Augmented Reality HUDs refer to?
AR Head-Up Displays (HUDs) enhance driving safety by projecting live contextual instructions, warnings, and additional AR information onto the windshield, enabling drivers to maintain constant focus on the road ahead.
What are the plans for utilizing the newly acquired funding at Basemark?
Basemark announced its plans to utilize the funds to enhance its relationships with original equipment manufacturers (OEMs) in Europe and the United States, as well as support its expansion into Japan, China, and South Korea. The company successfully obtained its initial series production agreement with an OEM in the United States in the previous year, and it highlighted ongoing discussions with prominent OEMs in Europe and Asia. Basemark’s objective is to secure additional series production agreements with OEMs and bolster the development tools for its ‘Rocksolid AR’ software.
Can you explain the purpose and function of Basemark’s Rocksolid AR software?
Rocksolid AR is Basemark’s automotive augmented reality software solution that enables OEMs to develop their own AR applications for Heads-up Displays (HUDs) and other in-vehicle screens.
Basemark mentioned that Rocksolid AR sets itself apart from competitors by offering more than just AR software development services. Unlike others, Rocksolid AR provides OEMs with both an AR development studio and an interconnected AR software development kit (SDK). This unique combination allows OEMs to create their own customized AR solutions, tailored to their individual brand identities.
This development studio, titled ‘Rocksolid AR Studio,’ enables OEMs to develop lightweight, portable AR applications that can fit on low-end chips and power multiple in-vehicle displays simultaneously, such as HUDs, instrument clusters, infotainment displays, and E-mirrors.
Tero Sarkkinen, Founder and CEO of Basemark, stated that AR development is a slow, expensive, and difficult process to learn, as it demands knowledge in AI, computer vision, graphics, and embedded systems. Traditional HMI development tools lack computer vision capabilities, creating a demand for an AR development tool in the automotive industry. Hence, Basemark created Rocksolid AR, the first-ever automotive AR development tool set designed for series production.
What does the Rocksolid AR offer to the automotive industry in terms of features?
According to Basemark, its Rocksolid AR solution includes advanced localization and motion tracking mechanisms to ensure AR content is always anchored correctly to real-world objects and appears in the correct position in the driver’s Field of View, regardless of motion or vibration.
Additionally, Rocksolid AR has built-in algorithms to combat latency, which can make the AR content feel disconnected from the real world and cause motion sickness. The software can also automatically understand safety-critical information in the environment and avoid blocking it with AR content to ensure a safe and immersive AR experience.
Sarkkinen stated that the most challenging aspect of creating immersive automotive AR experiences is presenting the appropriate information to the driver at the right moment and location. Rocksolid AR takes care of all the complex AI processes involved in placing content in the most immersive manner, allowing OEMs to concentrate on distinguishing their brands.
With which automotive companies does Basemark collaborate?
In 2022Basemark has recently introduced its augmented reality apps for BMW Group on the latest iX AR applications. The firm also stated that it has a customer base comprising of prominent Original Equipment Manufacturers (OEMs) and Tier-1 companies from the United States, Germany, France, Italy, and the United Kingdom.
For more information on Basemark and its automotive augmented reality solutions, click here.
