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Volvo Cars Tech Fund invests $2M in optics and imaging startup Spectralics – FiratNews

Volvo Cars Tech Fund invests $2M in optics and imaging startup Spectralics – TechCrunch

The enterprise arm of Volvo Automobiles, an automaker lengthy synonymous with security, has invested in an optics and imaging startup creating know-how that may be built-in right into a automotive’s windshield or home windows to ship photos to drivers and passengers.

Volvo Automobiles Tech Fund invested $2 million into optics and imaging developer Spectralics, funds it is going to use to speed up the event of its optical movie that the corporate says may make automobiles safer and supply a greater consumer expertise. Whereas the funding won’t appear important, the connection with Volvo may show fruitful, notably if its tech results in manufacturing automobiles. 

Spectralics is creating see-through optical overlay, also referred to as a “multi-layered skinny combiner,” that may be built-in onto a automotive’s windshield or home windows. Spectralics says this creates a wider area of view and, crucially, a way of distance – each crucial for a protected augmented actuality overlay.

Exterior of the car, the tech is also used for good glasses, optical methods and different head up shows. It’s the newest signal that augmented and digital actuality are transferring past gaming and client items and into the car. It’s arguably a part of a wider shift of automotive OEMs distinguishing new automobiles not by horsepower however by consumer experiences and know-how choices.

Spectralics founders from left to right Ran Bar Yosef Dr. Eran Falk Dr. Yuval Kashtar Yuval Keinan. Credit Tal Givoni

Spectralics founders Ran Bar Yosef, Eran Falk, Yuval Kashtar, Yuval Keinan. Picture Credit: Tal Givoni for Spectralis (opens in a brand new window)

Whereas the uptake of AR/VR in automobiles has confronted a lot of bottlenecks, automakers are main the pack in investing in firms creating this tech for in-cabin purposes. as Abigail Basset notes for FiratNews+.

If Volvo’s funding in Spectralics wasn’t sign sufficient, a spokesperson confirmed to FiratNews that the Swedish automotive big is trying to undertake this tech in its automobiles. “Spectralics is an effective portfolio match for us and we consider that their know-how has the potential to set a regular for the subsequent technology of shows and cameras,” Volvo Automobiles Tech Fund’s head Lee Ma mentioned in an announcement.

Spectralics is an alum of MobilityXlab, an accelerator in Götenborg, Sweden, and can be a part of Drive-TLV, a mobility hub in Tel Aviv that connects startups with automotive trade traders. Volvo’s funding arm has been a part of each initiatives since 2017, and has not too long ago invested in a handful of different Israeli startups, together with MDGo, which develops accident detection sensors, and car inspection tech developer UVEye.

The brand new funding now brings the Israel-based startup’s complete raised to $5 million.

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