Basemark Secures $24M in Series B Funding to Enhance Automotive Safety with AR Technologies

Basemark, the Helsinki-based developer of automotive augmented reality (AR) software, has successfully raised €22M ($24 million) in a Series B funding round. This funding, consisting of equity, grants, and loans, was led by ETF Partners with contributions from Finnish Industry Investment (Tesi), Constructor Capital, Business Finland, the European Innovation Council, and private investors.

With road safety a paramount concern—highlighted by the World Health Organization’s report of 1.19 million roadway fatalities in 2023—Basemark’s wants its software, Rocksolid AR, to emerge as a key solution. This software suite is sold to OEMs to develop AR applications for vehicles, enhancing driving safety by integrating real-time contextual guidance directly into the driver’s field of vision through Heads-up Displays (HUDs) and other in-vehicle screens.

Source: Basemark

The Rocksolid AR toolkit is designed to tackle common AR challenges, such as content anchoring and latency issues. The automotive industry demands expertise across multiple disciplines, including AI, computer vision, graphics, and embedded systems. Basemark is one of the few AR companies that has real specialization in this area.

Basemark’s efforts have already garnered significant attention, with it helping in the development of BMW’s new iX AR applications and partnerships with several other leading OEMs and Tier-1 companies across the globe. To date, Basemark has raised a total of €34M ($37 million) and continues to expand its footprint with operations in key automotive hubs including Munich, Detroit, and the San Francisco Bay Area.