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Life without sight is indeed very difficult, and assistance tools like a white cane and guide dogs come with considerable limitations. Observing the immense requirements for innovation in the field of technology, .lumen has developed smart glasses simulating the functions of a guide dog so as to enable the person more independent and safe out there. The recent round of €5 million funding signifies the next step toward making this revolutionary solution reach a lot more people.
Company Overview
Founded in Cluj-Napoca, Romania, .lumen is a medtech start-up whose mission is to improve the quality of life of blind people through advanced technology. Its .lumen Glasses use Pedestrian Autonomous Driving (PAD AI) technology in order to interpret and navigate environments – in other words, it replicates the assistance by guide dogs. .lumen addresses the scarcity and high costs of training guide dogs, supplying an alternative to traditional mobility aids that is scalable.
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Funding Amount
The €5 million funding round includes:
- European Innovation Council (EIC): A significant contributor, which demonstrates confidence in the potential of.lumen to impact the sector of assistive technology.
- Venture to Future Fund (VFF): Their investment underlines the innovative approach of the startup and market potential.
- SeedBlink Platform: €1 million was raised through public investment. This sets a record for the region and shows strong community support.LUMEN
Use of Funds
The capital raised will be strategically used in the following ways:
- Product Development: Make the features of.lumen Glasses more feature enriched and user oriented.
- Market Ingression: Creating a small order in Q4 2024 and then will enter the USA market in Q4 2025 with achieving 10,000 sales records by the end of 2026.LUMEN
- Team Building: Increase the scale of engineers, designers, disability experts, all for supporting its development and to expand the networks of its distributorship.
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Innovative Technology
Through PAD AI.lumen glasses are able to:
- Interpret Surroundings: Sensors and cameras gather information about the surroundings, which are then processed in order to get an understanding of obstacles and pathways.
- Guide Users: A proprietary haptic interface provides tactile feedback, effectively “pulling” the user’s head to indicate direction, like a guide dog’s guidance.
- Ensure Safety: Real-time processing allows for real-time responses to dynamic environments and enhances user safety during navigation.
Market Opportunity
Globally, 338 million people suffer from some form of visual impairment, but only 28,000 guide dogs are available because of the cost and time intensive training process.
.lumen’s technology presents a scalable solution in bridging this gap, presenting an accessible and cost-effective alternative to traditional mobility aids.
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Leadership Perspective
Cornel Amariei, CEO and founder of .lumen, said:
“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.”
Investor Confidence
The significant investments from credible sources such as the EIC and VFF are testaments to the belief in.lumen’s mission and technological capabilities. Matej Říha, Chairman of the Board at VFF, said:
“We believe that.lumen’s technology can change the lives of the blind in a profound way. Inspired by their mission and supported by an excellent team, we are excited to invest in a project that will bring both positive change and good returns.
Future Prospects
With the secured funding,.lumen is ready to accelerate its product development and expand its market reach. The company’s strategic roadmap includes:
- Limited-Series Launch: The.lumen Glasses will be launched in select markets by the end of 2024.
- U.S. Market Entry: The company will enter the United States by the end of 2025.
- Scaling Production: The company aims to distribute 10,000 units by 2026 to meet the growing demand for advanced mobility solutions.
Summary
Romanian startup.lumen has managed to raise €5 million to help develop its revolutionary smart glasses to improve mobility among the blind. The significant investment round was sealed with contributions from the European Innovation Council, the Venture to Future Fund, and a public investment of €1 million through SeedBlink. The capital is to be invested in strategic product development, expanding markets, and scaling up production capabilities for.lumen.
