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20 November 2017

CY Vision sees its way to $7m

CY, a developer of holographic technology for augmented and virtual reality devices based on research at Koç University, has raised $7m in series A capital.

Author: Sam McCaffrey, Reporter

CY Vision, a US-based computational holographic technology spinout of Koç University, has closed a $7m series A round led by home and professional appliances manufacturer Vestel’s corporate venturing subsidiary Vestel Ventures.

Vestel Ventures, a subsidiary of Vestel’s technology investment arm Zorlu Holding, was joined by Intel Capital, the corporate venture capital vehicle for semiconductor technology producer Intel.

Founded in 2016, CY Vision has developed a holographic display platform for use in augmented reality (AR) and virtual reality (VR) applications. The spinout is exploiting research conducted by Hakan Urey, professor of electrical engineering at Koç.

The technology is intended to eliminate problems and limitations of current AR and VR hardware, such as bulky glasses, motion sickness and a limited field of view. The funding will be used to continue developing the technology.

Orkun Oguz, co-founder and chief executive of CY Vision, said: “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.”

– A version of this article first appeared on our sister site, Global Corporate Venturing.

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