Basemark Raises €22M to Expand Automotive AR Software in Europe and Asia

Basemark Raises €22M in Series B Funding

Key Highlights:

• Series B Funding: Basemark, a provider of automotive AR software, raised €22M in a funding round led by ETF Partners.
• Business Expansion: Funds will be used to enhance business with OEMs in Europe and the United States and expand to Japan, China, and South Korea.
• AR Solutions for OEMs: Basemark offers software and tooling solutions for advanced automotive AR application development, including AR Navigation and AR ADAS visualizations.

Basemark's Target Market

• Target Market: Original Equipment Manufacturers (OEMs) in the automotive industry.
• Automotive AR Development: OEMs looking to develop AR applications for their cars, including AR HUDs and other screens.
• European and Asian Markets: Expansion plans include targeting OEMs in Europe, Japan, China, and South Korea.

What Basemark Needs to Buy

• Partnerships with OEMs: Collaborating with automotive OEMs to integrate Basemark's AR software solutions into their vehicles.
• Research and Development: Investing in R&D to enhance and optimize their software and tooling solutions for automotive AR applications.
• Market Entry Support: Engaging with local partners and service providers to facilitate market entry and expansion in target regions.