Cambridge-based AllFocal Optics, a deeptech startup specialising in nanophotonic lens technology, announced on Wednesday that it has secured $5.3M (approximately €5M) funding, comprised of a $3.6M (approximately €3.3M) equity raise, led by SpeedInvest, and Innovate UK grants.
Others, including 7PC Ventures (an early investor in Oculus VR), Martlet, Another.VC, Professional football player, and business angel Mario Gotze, Maximilian Odendahl (business angel and former CEO of Silexica), and serial entrepreneur Prashant Shah, also participated.
In addition to the funding, the company also announced the appointment of Dr. Ash Salusbury, Microsoft’s Former VP of Technology and the leader of Meta’s AR programme, as chairperson.
AllFocal: Pioneering nanophotonic lenses
Led by Dr. Pawan Shrestha, AllFocal Optics has developed thin nanophotonic lenses that allow users to visually access virtual information in the real world without nausea and discomfort typically associated with virtual, augmented, and mixed reality.
According to the company, its nanotech devices can be built into cars’ heads-up displays to put sat-nav directions on windscreens, doctors will be able to display vital medical information on smart glasses during procedures and consumers will use nausea-free headsets to interact with virtual games in physical settings.
The first trials of AllFocal Optics in-car settings will take place early next year in partnership with Jaguar LandRover.
The firm anticipates its lenses to be in augmented reality glasses and virtual reality headset in the next two years.
Dr Pawan Shrestha, AllFocal’s founder and CEO says, “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, it keeps the image in focus regardless of how the eyes adjust to the surrounding world, 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,” adds Shrestha.
The investor
Speedinvest is an early-stage venture capital firm with more than €1B AuM and 40+ investors based in Berlin, London, Munich, Paris, and Vienna.
Bitpanda, GoStudent, Wayflyer, Open, CoachHub, Schüttflix, TourRadar, Adverity, and TWAICE are among its portfolio of 300+ companies.
Rick Hao, Speedinvest’s deeptech partner adds, “ 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.”
