Helsinki-based Basemark raises €22 million Series B to make driving safer with AR
Summary
The round was a combination of equity, grants, and loans, and was led by ETF Partners, with funding also coming from Finnish Industry Investment (Tesi), Constructor Capital, a single family office based in Zürich, Business Finland, the European Innovation Council, and private investors. Basemark will use the capital to deepen its business with OEMs in Europe and the United States and fund its international expansion to Japan, China, and South Korea. However, AR development is very slow, expensive, and tedious to learn, requiring expertise in AI, computer vision, graphics, and embedded systems. Augmented reality is key to this transformation, serving as an integral component of the Software Defined Vehicle megatrend that is guiding the automotive industry toward full autonomy. Developer tools are close to my heart and I am very happy to support Basemark in its growth phase and beyond,” added Serg Bell, Founder and Chairman of the Board of Constructor Group.
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