TriLite secures new funding to scale AR projection display production
TriLite has successfully completed an extended Series A funding round, raising its total Series A funding to more than €20 million to scale production of its augmented reality (AR) projection display.
With their extensive industry knowledge, technical expertise and operational resources, the strategic investors will further accelerate TriLite’s go-to-market success. Their involvement confirms TriLite’s commitment to advancing its footprint in both the AR and automotive markets.
This funding round saw significant investments from two strategic investors — Continental’s Corporate Venture Capital Unit and an undisclosed global electronics supplier for TriLite’s Trixel® 3 projection display.
“TriLite has developed an outstanding display solution for AR applications and Continental places high value on TriLite’s innovative technology. Beyond consumer applications we see high potential in various automotive applications,” said Jürgen Bilo, Managing Director of the Continental Corporate Venture Capital Unit.
Existing financial investors APEX Ventures, B&C Innovation Investments and TEC Ventures also participated in this round. Their long-term guidance and support have been pivotal in scaling TriLite’s operations and bringing its innovative technologies to market. Their continued confidence underscores the robustness of TriLite’s business strategy and technological advancements.
“TriLite has 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,” stated Dr. Peter Weigand, CEO of TriLite.
Weigand added, “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.”
TriLite’s Trixel® 3 projector offers unprecedented image performance and brightness in an ultra-compact display, enabling original design manufacturers (ODMs) and original equipment manufacturers (OEMs) to develop consumer AR smart glasses and automotive driver information and passenger comfort applications.
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