TriLite, a developer of what it calls the world's smallest projection display, has raised €8 million in a new round of funding, enabling its customers to bring mass market augmented reality eyewear to the market.
The participants in the funding round included APEX Ventures, B&C Innovation Investments, Hermann Hauser Investment, TEC Ventures and QC·Ventures amongst others. It follows an earlier seed funding round in December 2019.
TriLite’s projection displays are suitable for AR and MR applications, enabling AR/MR glasses to finally overcome the bulkiness and weight that has so far prevented their mass market adoption.
Worldwide shipments of head-mounted displays (HMDs) are forecast to grow at an annual rate of 60% CAGR between 2020 and 2027.