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LightSpace Technologies selected for 2.25 million EUR grant funding from new European Innovation Council coronavirus program
Riga, 2020-06-09 15:33 CEST --
LightSpace Technologies has received European Innovation Council (EIC) Accelerator decision to approve grant funding of 2.253 million EUR to develop project “Next Generation Enhanced Augmented Reality 3D Glasses for medical education, pre-procedural planning, intra-procedural visualisation, and patient rehabilitation”.
Company with its project application has won strong competition of 4000 projects submitted to this application call and has become one of 36 best European innovative projects (only one from East Europe) to be financed.
In addition, EIC Accelerator team has granted LightSpace Technologies with a blended financing option, which includes also equity investment support component. More details on the equity investment support component terms and amount will be announced at later stage after the investor due diligence.
The approved grant financing fully supports LightSpace Technologies business plan to develop market ready AR glasses for medicine and launch them into production already in year 2021.
The funding is subject to finalisation and signature of the grant and equity agreements. The EIC Accelerator funding is provided under European Commission's Horizon 2020 Framework Programme for Research and Innovation.
More details:- https://ec.europa.eu/research/eic/pdf/ec_rtd_cv-accelerator-projects.pdf
About LightSpace Technologies
LightSpace Technologies is 3D optical solutions company developing key enabling technologies for Multi Focal Accommodating AR headsets and future glasses free lightfield and volumetric 3D image displays. It is jointly owned by Nasdaq Baltic listed HansaMatrix AS (HMX1R) Company with a number of a finance VC investors. Its mission is to create 3-dimensional image display technologies that visualize optically deep 3D images that naturally accommodate human vision system and without harm to eyes can be used for long periods by professionals and consumers. For more information, please visit LightSpace Technologies website at www.lightspace3d.com.
HansaMatrix is a fast-growing, high-technology company offering product design, industrialization and complete manufacturing services in data networking, Internet of Things, industrial segments and other services to high added value business segments. In addition to complete manufacturing services of OEM products, the company offers an ODM business model to both start-up and established companies that seek product development partnerships.
Phone: +371 6780 0009
Māris Macijevskis, CFA
Management Board Member, Finance Director
Phone: (+371) 6780 0002