[Funding alert] Helsinki-based Basemark Secures €22 Million in Series B Round Funding

The round was a combination of equity, grants, and loans, and was led by ETF Partners, with funding also coming from Finnish Industry Investment (Tesi), Constructor Capital, a single family office based in Zürich, Business Finland, the European Innovation Council, and private investors.

Basemark will use the Series B funding to deepen its business with OEMs in Europe and the United States and fund its international expansion to Japan, China, and South Korea.

The aim is to secure more series production deals with OEMs, and strengthen its Rocksolid AR software development tools. The company secured its first series production deal with an OEM in the United States last year and is also actively discussing with major OEMs in Europe and Asia.

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According to the World Health Organization, 1.19 million people were killed on roadways around the world in 2023. To improve safety and provide a more enjoyable driving experience, Basemark’s automotive AR software solution, Rocksolid AR, makes it fast, easy, and affordable for OEMs to develop their own Augmented Reality applications for Heads-up Displays (HUDs) and other in-vehicle screens.

AR HUDs improve driving safety by projecting real-time contextual guidance, alerts, and other AR content onto the windshield, helping drivers to constantly keep their eyes on the road.

Unlike its competitors, which solely focus on providing AR software development services, Rocksolid AR enables OEMs to develop AR solutions themselves by combining an AR development studio with an interconnected AR software development kit (SDK). This combination enables the efficient development of bespoke AR applications that reflect the unique brands of various OEMs.

Tero Sarkkinen, Founder and CEO of Basemark said, “We are pleased to welcome new investors Tesi and Constructor Capital onboard, as well as thank our existing investor ETF for their continued support. Constructor Capital's Founder, Serg Bell, is an exceptional entrepreneur and has founded many companies that offer synergies to Basemark. We're excited to work together to make driving more safe and enjoyable,”

Most AR solutions struggle to anchor AR content to the real world. Rocksolid AR includes advanced localization and motion tracking mechanisms to ensure AR content is always anchored correctly to real-world objects and appears in the correct position in the driver’s Field of View, regardless of motion or vibration.

Additionally, Rocksolid AR has built-in algorithms to combat latency, which can make the AR content feel disconnected from the real world and cause motion sickness. It can also automatically understand safety-critical information in the environment and avoid blocking it with AR content to ensure a safe and immersive AR experience.

Remy de Tonnac, Senior Partner at ETF Partners said, “In the future, as autonomous cars become the norm, we expect a significant decrease in the total number of vehicles on the road, with the majority being electric. This shift will result in a substantial reduction of emissions. Augmented reality is key to this transformation, serving as an integral component of the Software Defined Vehicle megatrend that is guiding the automotive industry toward full autonomy. Basemark is at the forefront of the AR/VR HUD technology revolution and they are perfectly positioned to help OEMs craft safer, more sustainable, and more enjoyable driving experiences for all,”.

Serg Bell, Founder and Chairman of the Board of Constructor Group said, “Finland has produced many category-leading software companies in the world and I see Basemark having an opportunity to become one in the professional augmented reality field. Developer tools are close to my heart and I am very happy to support Basemark in its growth phase and beyond,”.

About Basemark

Basemark , a finland startup is a leading provider of software and tooling solutions for advanced automotive AR application development, including AR Navigation and AR ADAS visualizations for AR HUDs and other screens in a car. Their solution, Rocksolid AR, comprises of visual design studio, SDK, and runtimes optimized for automotive software and hardware environments.