Romanian medtech startup .lumen has raised €5 million in a funding round from equity management and investment company SeedBlink, which supported Dronamics and Swisspod.
Co-investors, including the European Innovation Council and the Venture to Future Fund, contributed €4 million while €1 million was raised by SeedBlink’s investment platform from private investors.
Funds utilisation
The funding followed an event where the company pitched its Glasses for the Blind concept. With this investment, the company plans to support the EU and the US commercialisation of its product.
.lumen’s 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.
“Ionut Patrahau, Managing Partner at SeedBlink, said “Supporting startups like .lumen is a powerful act of faith in innovation and the entrepreneurial spirit. Their work empowers blind individuals with mobility and independence, transforming lives and building a legacy of progress and inclusivity,” Ionut Patrahau, managing partner at SeedBlink.
What does the company do?
Founded by Cornel Amariei, .lumen is committed to creating technology that changes lives. It’s flagship product, .lumen Glasses, and the underlying AI technology provide visually impaired individuals with unprecedented levels of independence and safety. .lumen’s Glasses for the Blind, which use Pedestrian Autonomous Driving (PAD AI) technology to mimic the functionalities of a guide dog.
As per the company, the .lumen device uses its proprietary haptic interface to pull the user’s head similar to how a guide dog pulls one’s hand. This technology has been tested by over 300 blind individuals from almost 30 countries.
Cornel Amariei, founder of .lunen added: “This record round on SeedBlink is a testament to the potential for innovation in Romania. Despite being ranked as the least innovative country in the EU, we believe Romania can deliver life-changing innovations to the world.”
What do we think about .lumen?
.lumen is poised to revolutionise mobility for visually impaired individuals with its innovative .lumen Glasses, which mimics a guide dog’s functionality. This device enhances independence and safety, transforming lives globally.
With its commitment to impactful technology, .lumen showcases Romania’s potential for delivering life-changing innovations, making significant strides towards inclusivity and improved quality of life for the visually impaired.
