202225 May

Lynx Secures $4M in Series A Funding, Aims to Become "European Champion of Mixed Reality"

Summary

Lynx, the French XR hardware startup known for crowdfunding the Lynx R-1 mixed reality headset, today announced its secured $4 million in its Series A round, led by social VR platform Somnium Space.Alongside Somnium Space, participants in the latest funding round also include what Lynx calls early supporters of the company and other investors involved in the AR/VR field such as ex-Meta and Google engineers.This brings the companys total outside funding to $6.8 million, according to Crunchbase data, following the R-1 headsets $800,000 Kickstarter campaign back in late 2021 and a seed round of $2 million in early 2019. As a part of the deal Artur Sychov, founder & CEO of Somnium Space, is joining the companys board of directors.Built on Qualcomms XR2 chipset, Lynx R-1 combines high quality cameras and virtual reality displays to achieve passthrough AR in addition to standard VR (aka, mixed reality), making it an early pioneer of the category. The Lynx team led by Stan has created an extraordinary AR / VR device (Lynx-r) with openness in mind which will change and revolutionize the way we all think and interact with this market category. Priced at $600 for its consumer version, the company is looking to lead the way into the same product category that many established players are soon to enter, including Meta with Project Cambria and Apple with its rumored headset, reportedly code named N301.We have this opportunity right here to create the European Champion of Mixed Reality with our work at Lynx, supported by a vibrant community of users and developers desperate to see alternatives to Big Tech companies products and their closed ecosystems. Whats the point of creating a European Metaverse if the underlying platform, the door we use to access it, remains in the hands of the same big players with their damaging business models?

Source: Roadtovr

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