Business Forum • 17 July, 2024 at 3:47 PM
In a transformative leap from local innovation to global sensation, Romanian startup .lumen is on a mission to restore mobility to the blind and visually impaired. Today, .lumen announces a €5 million funding round, with €1 million available on SeedBlink, marking a significant milestone in their journey to revolutionize pedestrian mobility.
Starting on July 17 at 10 AM on SeedBlink, investors and business angels can participate in this financing round, with a minimum investment of €2,500. The target amount for this round is €1,000,000, with co-investors such as the European Innovation Council and Venture to Future Fund contributing with €4 million.
Despite all technological advancements, when it comes to the mobility of the 338 million visually impaired there are only 2 widely used solutions – the guide dog and the white cane. Last year, €500 million was spent to train just 2,000 guide dogs, and there are only 28,000 guide dogs worldwide.
The most advanced assistive technology in the world
.lumen's first product, the Glasses, replicate the main features of the guide dog using autonomous driving technology. By comparison, if a guide dog works by pulling one's hand, the .lumen device does this with its proprietary haptic interface, which “pulls” the user's head. This technology has been tested by over 300 blind individuals from almost 30 countries.
The underlying technology in the Glasses is Pedestrian Autonomous Driving AI (PAD AI), which is a general level self-driving software capable of revolutionizing delivery robotics, AR, or even dual-use. In the future, this technology will enable humanoid robots to deliver parcels up to someone's door. And is patented internationally.
.lumen is going to do for pedestrian infrastructure is what Tesla Autopilot did to the automotive world.
Cornel Amariei, the visionary CEO and founder of .lumen, expressed his excitement about the company's mission and potential impact. "Growing up in a family with disabilities, I saw firsthand how technology can transform lives and how much is still needed. I founded .lumen to help people, and on the way, I found that we can do so much more. We're opening this round to everyone, not just institutional investors, because we want more people to be part of our story. Join us in this mission to make impact, not just money."
Venture to Future Fund is making one of the few investments outside Slovakia, signaling strong confidence in .lumen's technology and vision. Matej Říha, Chairman of the Board at VFF, commented, "We believe .lumen's technology can profoundly transform the lives of blind individuals. Inspired by their mission and backed by an outstanding team, we're thrilled to support a venture that promises both impactful change and impressive returns."
Ionut Patrahau, Managing Partner at SeedBlink, also highlighted the significance of this funding round. "We are incredibly proud to support .lumen and their dedicated team through our investor community. Their innovative work has a profound impact, improving the living experiences of those in need when the rest of society feels helpless."
.lumen's strategic roadmap includes a limited-series launching in Q4 2024 and the USA market entry in Q4 2025. The company aims to sell 10,000 units by the end of 2026. These efforts are supported by a robust team of 50 engineers, professors, disability experts, designers, and scientists.
Romanian innovation recognized globally
.lumen's innovative approach has earned it more than 40 prestigious awards in the past four years, including the Red Dot: Luminary, US National Academy of Medicine, World Economic Forum Tech Pioneers, Cisco Global Problem Solver, EIC Scaling Club, or the Global Business Hall of Fame. Their recognition extends beyond awards, with active partnerships with industry giants like NVIDIA, Toyota Mobility Foundation, Dassault Systemes, EIC, EIT, and AlchemistX. The startup has also been recognized as the first Romanian company selected for accelerator funding by the European Innovation Council, receiving a blended finance of €9.7 million.
For more information about .lumen and to participate in their funding round, visit SeedBlink round page.
.lumen is a pioneering Romanian startup dedicated to enhancing pedestrian mobility through innovative technology. Their flagship product, .lumen Glasses, and the underlying PAD AI technology, are designed to provide visually impaired individuals with unprecedented levels of independence and safety. Founded by Cornel Amariei, .lumen is committed to creating technology that changes lives