Romanian startup .lumen announces EUR 5 million funding round, EUR 1 million targeted on SeedBlink

Romanian startup .lumen, which has developed glasses meant to aid the mobility of the blind, has announced a EUR 5 million funding round meant to support the EU & US commercialization of the company's product.

The European Innovation Council and Venture to Future Fund are co-investors contributing EUR 4 million, while a EUR 1 million financing round is available on the equity and investment platform SeedBlink, where private investors can join with a minimum of EUR 2,500. For Venture to Future Fund this is one of the few investments outside Slovakia.

.lumen's glasses replicate the main features of a 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, the company explained. This technology has been tested by over 300 blind individuals from almost 30 countries.

When it comes to the mobility of the 338 million visually impaired there are only two widely used solutions: the guide dog and the white cane. Last year, EUR 500 million was spent to train just 2,000 guide dogs, and there are only 28,000 guide dogs worldwide, according to figures released by the startup.

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. It is patented internationally.

.lumen's strategic roadmap includes a limited-series launching in Q4 2024 and the US market entry in Q4 2025. The company aims to sell 10,000 units by the end of 2026.

These efforts are supported by a team of 50 engineers, professors, disability experts, designers, and scientists.

"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," Cornel Amariei, the CEO and founder of .lumen, explained.

"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," Matej Říha, chairman of the Board at Venture to Future Fund, said.

"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," Ionut Patrahau, managing partner at SeedBlink, said.