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Eonite Perception Raises $5.25 Million in Equity Funding to Take Its 3D Mapping and Tracking Technology to VR and Other Markets

PALO ALTO, Calif., May 05, 2016 (BUSINESS WIRE) -- Eonite Perception, a startup dedicated to making machines understand the real world, today announced it completed a $5.25 million seed round of equity funding from leading Silicon Valley venture capitalists and angels, including Lightspeed Venture Partners, Signia Venture Partners, Presence Capital, The VR Fund, Rising Tide, CLI Ventures, Andy Bechtolsheim (co-founder of Sun Microsystems and current founder, Chief Development Officer and Chairman of Arista Networks), Amr Awadallah (Founder and CTO at Cloudera), Greg Castle, Greg Richardson, Nader Shenouda, and others.

Eonite launched with two products: Vantage Head Tracker™ inside-out positional tracking system for tethered and mobile Virtual and Augmented Reality headsets that supports 6 degrees of freedom, is jitter free, and runs at very low latency on a mobile class CPU, and Reality Insight™ SDK, a home scale, real-time, 3D scanning and reconstruction SDK and Unity plugin, supporting persistent virtual content, occlusions, and shadows. Both products are built on Eonite’s 3D mapping and ego-tracking system, which uses commodity dense depth sensors and has three key capabilities that enable it to operate in the real world: sub-millimeter accuracy, low latency, and robust global localization.

Eonite Perception also announced that Peter Nieh, founding Partner of Lightspeed Venture Partners, and Rick Thompson, Partner of Signia Venture Partners, are joining its board of directors as observers.

Youssri Helmy, Founder and CEO of Eonite Perception, said: “Artificial perception is the means by which machines understand the real world, perception has been the greatest challenge in bringing smart robots and AI applications into our world, due to lack of accuracy and reliability among other challenges. Our technology works in the real world and immediately enables new applications like inside-out head tracking for VR headsets, and we are delighted to have venture capitalists and angels of this caliber help us build the company and bring out these solutions to market.”

Peter Nieh, Partner at Lightspeed Venture Partners, said: “Eonite Perception’s ground-breaking technology is fundamental to several large, rapidly emerging markets including VR/AR, drones and autonomous vehicles. Eonite has developed the most advanced technology, and we look forward to seeing it get integrated into some compelling products in the near future."

Tipatat Chennavasin, General Partner at The Venture Reality Fund, said: “Inside-out positional tracking for VR and AR has long been an unsolved problem...