.lumen Raises €5M to Transform Mobility for the Visually Impaired
In a groundbreaking move set to revolutionize pedestrian mobility for the visually impaired, Romanian startup .lumen has announced a €5 million funding round. With €1 million open for public investment on SeedBlink, this funding marks a significant milestone in company’s mission to restore mobility to the blind and visually impaired. The company is also EIC Scaling Club‘s member in the Next-Gen Computing market group led by Tech Tour.
Starting on 17 July, investors and business angels can participate in this financing round with a minimum investment of €2,500. The total target for this round is €1 million, supplemented by €4 million from co-investors including the European Innovation Council and Venture to Future Fund.
Bridging the Mobility Gap
Despite advancements in technology, the 338 million visually impaired individuals worldwide rely heavily on guide dogs and white canes. Last year alone, €500 million was spent to train just 2,000 guide dogs, with only 28,000 guide dogs currently in service globally. .lumen aims to fill this gap with their innovative Glasses for the Blind, which replicate the functions of a guide dog through cutting-edge technology.
Advanced Assistive Technology
.lumen’s Glasses leverage Pedestrian Autonomous Driving AI (PAD AI), a self-driving software that mimics a guide dog’s navigation by “pulling” the user’s head with a proprietary haptic interface. This technology has been tested by over 300 blind individuals from nearly 30 countries, demonstrating its potential to significantly enhance mobility for the visually impaired.
CEO and founder Cornel Amariei, driven by personal experiences with disability, founded the company to transform lives through technology. “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,” Amariei shared.
Global Recognition and Future Plans
.lumen’s innovative approach has earned them over 40 prestigious awards, including the Red Dot: Luminary, US National Academy of Medicine, and World Economic Forum Tech Pioneers. The company has also forged partnerships with industry giants like NVIDIA, Toyota Mobility Foundation, and Dassault Systemes. As the first Romanian company to receive European Innovation Council accelerator funding, .lumen has secured a €9.7 million blended finance package.
The company’s strategic roadmap includes a limited-series launch in Q4 2024 and a USA market entry in Q4 2025, with a goal of selling 10,000 units by the end of 2026. Supported by a robust team of 50 engineers, professors, disability experts, designers, and scientists, .lumen is poised to make a significant impact on the lives of the visually impaired.
Investor Insights
Venture to Future Fund is making one of its few investments outside Slovakia, demonstrating strong confidence in .lumen’s 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, 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.”
For more information about .lumen and to participate in their funding round, visit the SeedBlink round page.