Joint venture branch of Volvo Cars, an automaker long synonymous with safety, has invested in an optics and imaging startup that develops technology that can be integrated into windshields or umbrella windows. car to provide images for the driver and passengers.
Volvo Cars Technology Fund has invested $2 million in oOptical and imaging developer Spectrum, the company will use the funds to accelerate the development of optical films, which the company believes can make cars safer and provide a better user experience. While the investment may seem insignificant, the relationship with Volvo could prove fruitful, especially if its technology is incorporated into vehicle production.
Spectralics is developing a see-through optical coating, also known as a “thin-layer combiner”, that can be integrated onto a car’s windshield or windows. Spectralics says this creates a wider field of view and, importantly, a sense of distance – both essential for secure augmented reality overlays.
In addition to vehicles, technology can also used for smart glasses, optics and other head up displays. It’s the latest sign that augmented and virtual reality is moving beyond gaming, consumer goods and into transportation. It is believed to be part of a broader shift among automotive OEMs in distinguishing themselves new car not by horsepower but by user experience and technology services.
While the use of AR/VR in cars faces a number of obstacles, automakers are leading the way in investing in companies that develop the technology for in-cabin applications. as Notes by Abigail Basset for TechCrunch+.
If Volvo’s investment in Spectralics doesn’t signal enough, a spokesperson has confirmed TechCrunch that the Swedish car giant is looking to apply this technology in its cars. “Spectralics is a good investment for us, and we believe their technology has the potential to set the standard for the next generation of displays and cameras,” said Lee Ma, head of the Public Fund. Volvo Cars technology said in a statement.
Spectralics is a member of MobilityXlab, an accelerator in Götenborg, Sweden, and also part of Drive-TLV, a mobility hub in Tel Aviv that connects startups with investors in the automotive industry Bowl. Volvo’s investment arm has been part of both initiatives since 2017 and has recently invested in several other Israeli startups, including MDGo, which develops ear-detection sensors. accident and developer of vehicle inspection technology UVEye.
The new funding now brings the Israel-based startup’s total raised to $5 million.
