AllFocal Optics raises $5.3m to advance nanophotonic lens technology
Speedinvest led the equity portion of the financing alongside grant backing from Innovate UK.
≈ £4.1M at $1 = £0.7763 on 6 Nov 2024
A Cambridge-based deeptech startup developing nanophotonic lens technology designed to provide always-in-focus images for extended reality hardware.
AllFocal Optics has secured $5.3m in a funding round comprising $3.6m in equity and $1.7m in grant funding from Innovate UK. The equity financing was led by Speedinvest, with participation from 7PC Ventures, Martlet, Another.VC, Mario Gotze, Maximilian Odendahl, and Prashant Shah. The capital will support the company as it prepares for initial trials of its technology with Jaguar LandRover in early 2025.
Spun out from Cambridge University, the firm builds on a decade of research into nanophotonic optics that aim to eliminate the nausea and visual discomfort often associated with virtual and augmented reality. Its thin lenses project digital imagery directly onto the retina, allowing users to shift focus between physical and virtual environments smoothly.
The fresh funding arrives alongside several strategic appointments, including former Microsoft and Meta executive Dr Ash Salusbury joining as chair. The company intends its technology for diverse sectors ranging from automotive heads-up displays and medical smart glasses to defence applications and consumer headsets.
From the founder
"Critical to XR’s mass adoption is enabling users to interact with virtual images for as long as they like, without feeling nauseous, and to seamlessly shift focus between physical and virtual environments. Our technology, compatible with LCD, OLED, or any type of display, makes that possible. By projecting a digital image onto a user’s retina, keeps the image in focus regardless of how the eyes adjust to the surrounding world, completely eliminating any discomfort. After more than a decade of research, we’re now ready to take our technology to market, unleashing possibilities across automotive, medical, engineering industries, and more."
Pawan Shrestha
CEO at AllFocal Optics
Investor perspective
"AllFocal has unique technologies that are fundamentally changing the way nanophotonics are designed. Their patented technology is the key enabler for a variety of industries, including smart-glasses, heads-up display, and defence. We are thrilled to support AllFocal Optics as they push the boundaries of visual technology. AllFocal is recreating human vision via its technology – this is critical to the future of any industry."
Rick Hao
Deeptech Partner, Speedinvest
