Basemark Raises $23 Million For Augmented Reality Automotive Software
Summary
Augmented reality (AR) software firm Basemark has raised $23 million in a new funding round. The Series B round, announced Tuesday (April 9), will help Basemark deepen its business with OEMs in Europe and the United States and fund its expansion to Japan, China and South Korea, the company said in a news release. “While legitimate concerns for security, safety implications and privacy persist, this trend has the potential to foster collaborations between the automotive and entertainment sectors, thereby paving the way for the emergence of entirely new ecosystems, heightened consumer engagement and diversified revenue streams,” that report said. Elsewhere, PYMNTS recently examined the rise of the connected car, noting that despite data privacy and security concerns, the future of these vehicles remains promising. “The potential benefits in terms of safety, efficiency and convenience continue to drive investments and research in this field,” PYMNTS wrote.
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