In a recent development, GV, the venture capital division of Google by Alphabet Inc, (NASDAQ: GOOG) (NASDAQ: GOOGL), has invested in a Finnish startup, Distance Technologies, which is working on integrating mixed-reality technology into car windshields and airplane cockpits.
What Happened: Distance Technologies has successfully raised 10 million euros ($11.1 million) in a seed funding round led by GV. The round also saw participation from other investors such as FOV Ventures and Maki.vc, CNBC reported on Thursday.
Distance, based in Helsinki, is developing a technology that can transform any transparent surface into an augmented-reality display, eliminating the need for hardware like mixed-reality headsets or augmented reality glasses. The company's technology uses tracking to identify where the user is looking and then computes the correct light field to match the exact positions of the user's eyes.
Why It Matters: This investment by GV in Distance Technologies is a significant move, considering Google's renewed interest in the augmented and virtual reality (AR/VR) market. Earlier this year, Google entered into a strategic partnership with Magic Leap, an augmented reality startup, to create immersive experiences that integrate the physical and digital realms. This partnership was aimed at leveraging Magic Leap's expertise in optics and device manufacturing alongside Google's advanced technology platforms.
Distance's technology, which is primarily focused on the auto, aerospace, and defense markets, could potentially revolutionize these sectors by creating a life-size field of view in any setting. This aligns with Google's strategic direction in the AR/VR market and could potentially give it an edge over competitors like Meta Platforms Inc. (NASDAQ: META) and Apple Inc. (NASDAQ: AAPL).