TriLite Technologies, the Austrian developer of the world's smallest display technologies for augmented reality (AR) devices, has raised an undisclosed million dollar venture capital round led by Hermann Hauser Investment and APEX Ventures. i5invest and QC Venture Partners also participated.
With major companies like Amazon, Apple, Microsoft, Sony and Samsung all jockeying to bring AR glasses to market by 2025, the general assumption is that such glasses will replace smartphones in the next fifty years. Some people bet the revolution is much faster than that.
“If the current development speed continues, there are realistic chances that AR glasses start to replace mobile phones within the next five years,” said Samsung CEO Ki Nam Kim.
TriLite believes it could be in the right place at the right time with the right technology.
The Vienna-based startup has just finished prototyping the world’s smallest laser projector for AR glasses. The so-called “Trixel“ combines laser beam scanning (LBS) technology and proprietary software to create full-colour, high resolution displays for tech glasses. The company already owns a dozen patents, with more in the pipeline.
With the new funding, TriLite’s next step is a massive expansion in 2020 on all levels, from prototype to mass manufacturing. Toward the end of the year, the company hopes to raise a Series A round.
Founder and CEO Ferdinand Saint Julien laid out the roadmap: “We have to keep the pace and momentum going; proper and fast execution is key. We are going to aggressively accelerate our product development and mass manufacturing capabilities and also expand our customer base. Not just in the AR sector, but we are also seeing strong interest in the automotive sector and smart home applications.”
Hermann Hauser commented: “This combination of market and disruption potential, timing and technology advantage is rare. The USP, due to size, is obvious and team expertise also on commercial level as well as a substantial partnership setup are assets on top. For me it is very likely that TriLite-projectors will be a game changer and an industry standard for the Augmented Reality sector - one crucial puzzle piece for the next technology revolution.”