TMCnet News
CY Vision Completes Series A Funding Round From Vestel Ventures and Intel CapitalCY Vision, a premier vision systems and applications company, has officially closed Series A funding round totaling $7 million led by Vestel Ventures, with participation by Intel (News - Alert) Capital. CY Vision's patent-protected computational holographic display technology positions it to be the first company to enable the use of holography for a wide spectrum of display solutions powering next generation AR and VR headsets. This breakthrough holographic technology was created by CY Vision engineers and scientists to make AR/VR a safer and more comfortable experience for all users. CY Vision was co-founded by a world-renowned professor of optics and MEMS, Hakan Urey Ph.D., from Koc University, Istanbul. He has been working in display technology for 20 years. His work regarding computational holographic display has started in 2012 and CY Vision was established as a spinoff from the university lab in 2016. Sharing the role of co-founder is Orkun Oguz, CEO, who stated, "Our computational holographic technology, combined with pupil tracking, mimics exactly the way our brain and eyes function to present 3D information. Our solutions generate the same information to the eyes that a real-world 3D scene would generate, with all the visual depth cues. We will use this investment to develop our technology further, which we believe will solve one of the biggest challenges in AR/VR today related to visual comfort and help accelerate adaptation of AR and VR for enterprises and consumers in coming years." Wendell Brooks, senior vice president of Intel Corp. and president of Intel Capital (News - Alert), said, "At Intel, we believe virtual and augmented reality has the potential to redefine human-computer interaction, changing the way we live, work and play. CY Vision's holographic technology has great potential to play a vital role in the development of the broader ecosystem" About CY Vision Based in Silicon Valley, CA (News - Alert), CY Vision is a vision systems and applications company with a breakthrough computational holographic technology to power up the next generation AR & VR head worn displays. CY Vision solutions generate the same information to the human eyes as a natural 3D scene would generate with all the visual depth cues, as well as enabling better design and comfortable long-term viewing experience. For more information about CY Vision, please visit http://www.cyd.tech/ About Intel Capital Intel Capital invests in innovative startups targeting 5G connectivity, the data center, artificial intelligence, merged reality, autonomous driving and a wide range of other disruptive technologies. Since 1991, Intel Capital has invested US $12.2 billion in 1,500 companies worldwide, and more than 640 portfolio companies have gone public or been acquired. Intel Capital curates thousands of business development introductions each year between its portfolio companies and the Global 2000. For more information on what makes Intel Capital one of the world's most powerful venture capital firms, visit www.intelcapital.com or follow @Intelcapital. About Vestel Ventures Vestel Ventures is a corporate venture capital fund under Zorlu Holding, the technology investment arm of Vestel Electronics, active in Istanbul, San Francisco, London, and Tel Aviv. Vestel Ventures established at the end of 2014 to support entrepreneurs in the stages of seed to growth level to commercialize new innovative ideas. Vestel Ventures offers strategic partnership to entrepreneurs by providing Vestel's R&D and production facilities for all stages of the product development process, from product, industrial, and multi-screen interface design, to prototyping and testing to certification and production. Vestel also offers marketing and branding expertise, and distribution and sales channels across 154 countries. In addition, Vestel Ventures provides Zorlu Holding's deep expertise, corporate financial power, business network resources and managerial experience in energy, textile, mining and property sectors. For more information, please visit www.vestelventures.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20171115005463/en/ |
