Basemark with 22 million euros Series B

With Rocksolid AR: Basemark paves the way for customized in-vehicle augmented reality solutions - an investment in the future of the automotive industry

Helsinki, Finland, April 9, 2024 - Finnish company Basemark, a provider of automotive augmented reality software, has successfully closed a €22 million Series B financing. The financing round was led by ETF Partners and also included funding from Finnish Industry Investment (Tesi), Constructor Capital, Business Finland, the European Innovation Council and private investors. The financial advisory firm Prescus Capital advised Basemark on the VC and private investor participation and the financial advisory firm Civitta on the EIC financing.

International expansion planned

Basemark plans to use the fresh capital to deepen its business with OEMs in Europe and the USA and to finance its international expansion into Japan, China and South Korea. The aim is to conclude more series production agreements with OEMs and to strengthen Rocksolid AR's software development tools.

Solution for greater road safety

Basemark's solution, Rocksolid AR, enables OEMs to develop their own augmented reality applications for heads-up displays (HUDs) and other in-vehicle screens. These AR HUDs improve driving safety by projecting real-time instructions, warnings and other AR content onto the windshield, helping drivers keep their eyes on the road at all times.

Next steps and prospects

The funding will be used to drive the development of Basemark's AR solutions and expand the business globally. The company plans to present and demonstrate Rocksolid AR at Embedded World 2024 in Nuremberg, Germany, from April 9-11, 2024. Basemark has raised a total of €34 million in funding to date and currently operates facilities in Helsinki, Munich, Detroit and the San Francisco Bay Area. The global market size for automotive heads-up displays amounted to USD 1.43 billion in 2023 and is expected to reach around USD 17.43 billion by 2032.