Distance Technologies raises a $2.7M pre-seed round from Finnish investors

Maki.vc and FOV Ventures have co-led a $2.7 million pre-seed investment round for Distance Technologies, a Helsinki-based startup developing glasses-free mixed reality solution. Business Finland and David Helgason’s Foobar.vc also participated in the financing.

About Distance Technologies

  • Founded by Urho Konttori and Jussi Makinen, Distance uses a computer-generated 3D light field that seamlessly mixes with the real world to offers flawless per-pixel depth covering the entire field of view for maximum immersion. This XR content can include a wide range of situational analyses and information to that location or geospatial coordinate.
  • Distance Technologies is designed to also tie-in to a wide range of AI language models and search engines as the means to produce true “Contextual AI” and represents the next generation of XR experience available to a mainstream audience.

Investment details

  • The fresh round was co-led by Maki.vc and FOV Ventures.
    • Founded in 2018 by Ilkka Kivimaki and Pirkka Palomäki, Maki.vc focuses mainly on deeptech, commercial products, commercial services, consumer food products, healthcare technology systems, AI, ML, and technology sectors. 
    • FOV Ventures is Helsinki-based venture capital fund investing in startups building the Metaverse at pre-seed and seed stages of their development.
  •  Business Finland and David Helgason’s Foobar.vc also joined the financing round.

This team is absolutely brilliant and their timing couldn’t be better as the automotive and mobility space is experiencing a true renaissance. Distance’s execution speed is already extraordinary and we have 100% confidence in their ability to revolutionize the XR industry with their groundbreaking technology. It’s unlike anything we’ve seen before, and we’re excited to support their journey to new heights,

Ilkka Kivimäki from Maki.vc commented.

Distance Technologies will apply the fresh capital for the development of its glasses-free extended reality app.