TriLite scales production for AR HUD displays with extra funding
TriLite in Vienna has extended its Series A funding round to over $20m to scale production of its projection display for automotive head up displays (HUD) .
The additional funding for TriLite comes from automotive supplier Continental’s Corporate Venture Capital Unit and an undisclosed global electronics supplier for its Trixel 3 projection display. The technical expertise and operational resources of the investors will help accelerate production for automotive head up displays (HUD).
“TriLite has developed an outstanding display solution for AR applications and Continental places high value on the innovative technology. Beyond consumer applications we see high potential in various automotive applications,” said Jürgen Bilo, Managing Director der Continental Corporate Venture Capital Unit. Existing financial investors APEX Ventures, B&C Innovation Investments and TEC Ventures also participated in this round.
“We have proven the function and the product-to-market fit of its Laser Beam Scanning (LBS) technology for high-volume consumer applications. With this latest funding and the expertise of our strategic investors, we will qualify and industrialize our LBS optical engine for consumer AR systems and automotive applications,” said Dr. Peter Weigand, CEO of TriLite. “Our shareholder base consists of world-class and globally leading companies and financial investors. Our technology and our business strategy are consistently being evaluated very positively by customers and investors. This latest investment will enable us to focus on mass production and further improve our leading intellectual property (IP) position.”
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