Finnish automotive AR company Basemark raises a €22M investment

Basemark, a Helsinki-based provider of automotive AR software for cars, has raised €22 million in Series B funding. The round was led by ETF Partners with participation from Tesi, Constructor Capital, Business Finland, the European Innovation Council and private investors.

About Basemark

• Founded in 2015 by Tero Sarkkinen, Basemark specialises in automotive AR (augmented reality) solutions, including AR Navigation and ADAS (Advanced driver-assistance system visualizations) for HUDs and in-car screens. The company’s Rocksolid AR platform offers a visual design studio, software development kit, and optimized running times for automotive environments, facilitating the development of innovative AR applications for vehicles.
• Rocksolid AR enables manufacturers to develop AR solutions themselves by combining an AR development studio with an interconnected AR SDK. It also includes advanced localization and motion tracking mechanisms to ensure AR content is always anchored correctly to real-world objects and appears in the correct position in the driver’s Field of View, regardless of motion or vibration.

• In 2022, Basemark announced that it has significantly contributed to BMW Group’s new iX AR applications. The company also serves some manufacturers and Tier-1 companies as customers from the USA, Germany, France, Italy, and the UK.

Investment details

• The round was a combination of equity, grants, and loans, and was led by the London-based VC firm ETF Partners, with funding also coming from Finnish Industry Investment Tesi, Constructor Capital, a single family office based in Zürich, Business Finland, the European Innovation Council, and several private investors.

We are pleased to welcome new investors Tesi and Constructor Capital onboard, as well as thank our existing investor ETF for their continued support. Constructor Capital’s Founder, Serg Bell, is an exceptional entrepreneur and has founded many companies that offer synergies to Basemark. We’re excited to work together to make driving more safe and enjoyable,

Tero Sarkkinen, founder and CEO of Basemark, says.

• Basemark will use the capital to expand its business with original equipment manufacturers in Europe and the United States and fund its international expansion to Japan, China, and South Korea. Basemark also aims to secure more series production deals and strengthen its Rocksolid AR software development tools.

The startup’s team has also added that it will exhibit a demo version of Rocksolid AR at Embedded World 2024 in Nuremberg, Germany, from April 9th to 11th, 2024.