Basemark Raises $23 Million in Funding Round for Automotive AR Software
Basemark, a leading augmented reality (AR) software firm based in Helsinki, Finland, has just secured a whopping $23 million in a new funding round. The company specializes in developing AR tools for automotive original equipment manufacturers (OEMs) through its Rocksolid AR software development tools.
The Series B funding round, announced on Tuesday, will enable Basemark to strengthen its relationships with OEMs in Europe and the United States, as well as expand its presence in key markets such as Japan, China, and South Korea. The company’s mission is to enhance road safety and provide a more engaging driving experience for users.
According to a news release from Basemark, the World Health Organization reported that 1.19 million people lost their lives on roadways worldwide in 2023. In response to this alarming statistic, Basemark’s Rocksolid AR software solution aims to empower OEMs to create their own AR applications for heads-up displays (HUDs) and in-vehicle screens quickly, easily, and affordably.
One of the key features of Basemark’s AR solution is its advanced localization and motion tracking mechanisms, which ensure that AR content is accurately anchored to real-world objects and appears correctly in the driver’s field of view. The software also includes algorithms to minimize latency and prevent motion sickness, as well as the ability to prioritize safety-critical information in the environment.
The timing of this funding round is significant, as car manufacturers and tech companies are increasingly leveraging AR, virtual reality, and artificial intelligence to deliver more immersive experiences for drivers. Despite concerns about security, safety, and privacy, the trend towards connected cars and advanced technologies is expected to drive collaborations between the automotive and entertainment sectors, leading to new ecosystems and revenue streams.
Overall, the future looks promising for Basemark and the automotive industry as a whole, as investments and research in connected cars continue to focus on enhancing safety, efficiency, and convenience for drivers. Stay tuned for more exciting developments in the world of AR and automotive technology.
