HP Tech Ventures

Technologies bringing about a new reality

Extended Reality

Mojo Vision is the developer of AR contact lens Mojo Lens, which was developed in partnership with Japanese contact lens maker Menicon. Mojo Lens includes a built-in microLED display that allows the user to view AR-based monochrome images, symbols, and text without obstructing their view or restricting mobility. The company intends to work with fitness brands and the visually impaired initially.In January 2023, the company announced a halt in the production of their smart contact lenses and laid off 75% of its staff due to difficulties in raising funds. The company has since then pivoted its focus on the production of micro-LED’s. Milestones achieved in micro-LED development include lighting up the first 300 mm GaN-on-silicon, blue micro-LED array wafer (May 2023) and powering the world's highest-density (14K ppi) red micro-LED micro display (June 2023).Key customers and partnershipsIn <a href="https://sp-edge.com/updates/33443">September 2024</a>, the company partnered with CY Vision to develop next-generation car heads-up displays (HUDs), incorporating AR and 3D imaging geared towards reducing road accidents. Previously, in May 2023, the company partnered with DigiLens to use its micro-LED technology for improved AR glasses. Previous partnerships include to deliver performance and real-time stats data to runners, cyclists, and golfers for performance measurements include Adidas Running (running/training), Trailforks (cycling, hiking/outdoors), Wearable X (yoga), Slopes (snow sports), and 18Birdies (golf) as of January 2022.

AdHawk Microsystems develops camera-free eye tracking solutions for extended reality (XR), gaming, research, and healthcare applications.The company’s MindLink eye-tracking glasses utilize ‘micro-electromechanical systems (MEMS)’, miniature devices that handle mechanical functions, that can be integrated with AR/VR headsets to track eye movement. The glasses allow researchers to investigate wearers’ neurological and ocular health, behavior, and state of mind using eye movement data.The company claims that compared with using cameras, MEMS improve the speed, form factor, and energy efficiency of AR/VR headsets, while delivering resolution similar to research-grade systems that utilize cameras.In December 2023, the company announced the MindLink Air glasses, which provide eye-tracking features focused on improving task productivity and health and fitness. Further, users will be provided with personalized, longitudinal data they can use to adjust their daily routine to reduce mental fatigue. The company planned to make its solution commercially available sometime in 2024.

Providing a seamless consumer experience is one hope for bringing back brick and mortar retail, automated stores are being built to do just that.

Automated Stores

AiFi offers a grab-and-go checkout solution powered by computer vision and AI. Its solution enables a customer to enter a store using a mobile app, pick up the items required, and exit the store to complete the purchase. The solution also generates statistics and insights on customer behavior. The company claims that its technology can track up to 500 customers while also tracking tens of thousands of items in a store. It also claims a 99% accuracy rate and can be used within a space of up to 10,000 square feet, without using facial recognition technology or storing biometric data.AiFi’s flagship platform, “Orchestrated Autonomous Store Infrastructure &amp; Services (OASIS)” is designed for stores ranging from 200 square feet to 10,000 square feet and allows users to select between a fully autonomous shopping experience or a hybrid model. The stores will have a turnstile, a kiosk or door locks at the entrance, which the customer can interact with to gain access to the store. It also can be integrated with existing payments, inventory management, and electronic shelf labeling systems. The stores operate on a subscription-based model, and the company guarantees 12 months to achieve a return on investment (ROI).AiFi leverages the OASIS platform to offer retail clients the option of deploying an AiFi NanoStore, a custom-designed, fully-automated, container-sized, unmanned, checkout-free store format that can be operated 24/7. The NanoStores come in sizes of 160, 300 and 370 square feet specifications. Company claims that its technology can save around USD 20 per hour of operation.Key customers and partnershipsAs of February 2023, AiFi’s technology was deployed at over 100 stores globally. In January 2022, AiFi launched its largest store, a 6,000 sq ft Aldi location in London. AiFi’s key partnerships include Carrefour (November 2018) in the UAE, Zabka (February 2019), Wundermart (February 2021), PostNL (May 2021), Morrisons (July 2021), Aldi (January 2022), Compass Group (December 2021), Kende Gastro (January 2022) in Europe, Loop Neighborhood (January 2020), Choice Market (April 2021), Verizon (May 2021) , Acrisure Arena ( <a href="https://sp-edge.com/updates/29120">May 2024 </a>), and Chicago White Sox (<a href="https://sp-edge.com/updates/33472">September 2024</a>) in the US, and AiGo (December 2020) in China.AiFi also has a partnership with Microsoft (January 2023) to launch a cloud-based analytics service for cashier-less stores. In <a href="https://sp-edge.com/updates/9389">March 2022 </a>AiFi partnered with Sodexo, the French campus food service operator, to bring autonomous grocery stores to campuses across the US.Funding and financialsBy 2022, AiFi reportedly had revenue growth of 5–6x YoY. In March 2022, AiFi raised USD 65 million in a Series B funding round led by Canada-based investment management firm Khaira CapitalAiFi. It planned to leverage the new funding to scale partnerships, strengthen its deployment team for faster store rollouts, and invest in product development and feature enhancement.

Remote learning is driving an education technology revolution.

EdTech: K-12

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 Founded in 2014 by Mark Schnittman and Max Makeev, Owl Labs develops video technology to create inclusive and immersive video experiences for remote collaboration in the business, education, healthcare, and legal sectors. The company&rsquo;s flagship product, Meeting Owl&mdash;which consists of a 360-degree camera, mic, speaker, and proprietary artificial intelligence technology&mdash;was used by 100,000 organizations and more than 2,000 schools and universities as of June 2022.
 
 
 In March 2021, Owl Labs introduced a new suite of features leveraging Meeting Owl to support remote and hybrid learning. The new features are Owl Connect, which allows educators to expand the video and audio reach in classrooms by pairing two Meeting Owl Pros together; Presenter Enhance, which adapts to the presenter faster and tracks the room differently with video following the presenter&rsquo;s movement and audio following the discussion; and Digital Whiteboard, which allows virtual whiteboards to be viewed remotely. Additionally, Owl Labs has updated its in-device features with new functions, such as 360-degree panoramic controls, vertical flip, the ability to lock the camera on a whiteboard or presenter, and a passcode lock to prevent misuse by students. More recently, in June 2022, the company updated its in-device features with enhanced facial recognition, 4x faster detection, expanded audio range and compatibility, and enterprise IT support. 
 
 
 Key customers and partnerships&nbsp;
 
 
 In September 2022, the company partnered with BlueJeans by Verizon, an interoperable cloud-based video conferencing service provider, to offer a bundle subscription service by combining its technology with BlueJeans Meetings video conferencing software licenses.
 
 
 Funding and financials
 
 
 In November 2022, the company raised 
 <a href="https://sp-edge.com/updates/14577">
 USD 25 million in a Series C funding
 </a>
 round led by HP Tech Ventures. It planned to use the funds to expand the global adoption of its products and continue product development. Additionally, it sought to broaden Owl Labs' reach internationally and strengthen its go-to-market alliances beginning with a business arrangement between Owl Labs and HP France under which HP would market and sell Owl Labs' products domestically. Since its founding, the company's revenue has increased more than threefold year-over-year and it has increased sevenfold since the pandemic started.
 
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AI-based solutions for evolving digital threats

Next-gen Cybersecurity

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 Deep Instinct uses artificial intelligence and machine learning to provide threat detection and automated remediation for enterprise endpoints. The company&rsquo;s Deep Neural Network (D-brain) technology detects known and unknown malware, ransomware, and other forms of threats.
 
 
 In March 2021, Deep Instinct started including a performance guarantee to ensure an extremely low false-positive rate and a ransomware warranty of up to USD 3 million per company for a single breach.
 
 
 Key customers and partnerships
 
 
 As of February 2020, the company served customers in the Fortune 500 operating across financial services, healthcare, aviation, insurance, and technology. Deep Instinct partnered with Cloud Distribution in July 2021 to launch its prevention platform through UK channel partners. The company also partnered with Tanium, a cyber asset and inventory management provider in November 2021 to deliver an integrated threat response solution for endpoint security.
 
 
 Funding and financials
 
 
 In September 2022, the company 
 <a href="https://sp-edge.com/updates/13159">
 raised USD 62 million
 </a>
 from BlackRock and Jupiter Fund Management, bringing the total funding raised to USD 322 million. Deep Instinct had plans to further extend this round with additional USD 18 million. Reportedly, this is also the company&rsquo;s last funding round before it looks at going public over 2023, depending on public market conditions.&nbsp;
 
 
 Additionally, the company also made a decision to 
 <a href="https://sp-edge.com/updates/20432">
 lay off 46 employees
 </a>
 , or 16% of its total workforce across Israel, the US and Europe in July 2023 following a management restructuring, and reportedly planned to stop making new hires in Israel.
 
 
 In March 2023, Deep Instinct 
 <a href="https://sp-edge.com/updates/16956">
 received an undisclosed investment from PayPal Ventures
 </a>
 , with the funding expected to be used to accelerate the growth of the company and its threat prevention technology.
 
 
 In 2022, Deep Instinct grew its customer base by three fold, which includes numerous Global 2000 companies spanning across the US, Europe, and Asia-Pacific.
 
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Empowering efficiency, visibility and collaboration throughout supply networks

Supply Chain Tech

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 Trackonomy Systems offers a cloud-based platform that is built to enhance the efficiency of tracking commodities across the supply chain. The platform establishes a system for autonomous packages by leveraging AI and IoT technologies to enable end-to-end visibility of shipments across the globe and real-time tracking and monitoring of assets, goods, and inventory. This, in return, provides solutions to mitigate risks associated with the safety of commodities being transported, including spoilage of food, drug safety, and counterfeiting and theft.
 
 
 
 
 The company is headquartered in the US and has also established an operational presence in India. The company serves in the B2B space catering to transportation, healthcare, industrial, manufacturing, safety, and security markets.
 
 
 
 
 Funding and financials
 
 
 
 
 The company&rsquo;s latest funding round was a Series C round completed in November 2021. The amount of funding raised, the investors, and the intended use of the funds were undisclosed.
 
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Owl Labs is a collaborative tech company revolutionizing how the world communicates through inclusive and immersive video experiences. Built for modern organizations, we’re dedicated to empowering hybrid and remote teams with our award-winning collaborative technology and product suite.

AiFi provides a flexible AI platform that enables retailers to affordably deploy and scale autonomous shopping solutions across their businesses. Leveraging computer vision, AiFi adapts to existing store formats without the need for shelf sensors and provides advanced tracking algorithms that can scale up to 10,000 square feet to support various shopper journeys such as an app, credit card, gated, or hybrid entry.  AiFi works with retailers worldwide such as ALDI South Group, Carrefour, Compass Group, Morrisons, Żabka Group, REWE, and Verizon. AiFi has the highest number of computer vision-powered autonomous stores across the globe. The company has raised a total of $80 million from investors including Verizon Ventures, Qualcomm Ventures, HP Tech Ventures, Mithril Capital, Cervin Ventures, TransLink Capital, Plum Alley, Duke Angel Network, Reaction, GS Future, Drive Catalyst, and Evolution. For more information, please visit aifi.com.

Mobalytics is an eSports company creating a new, more robust way for competitive gamers to analyze and improve their performance. The company is developing a Gamer Performance Index (GPI) that involves using in-game data available from game APIs and crunching it through machine learning algorithms to analyze and improve player performance across several areas crucial for competitive gaming.

Parsec empowers people to connect to their work, games, and friends from anywhere, on any device. Parsec for Teams lets artists, animators, developers, and designers across the creative industries use their powerful PCs and VMs from anywhere, across any device. Our silky smooth, 60FPS+, 4K interactive remote access tools are used by leaders in games, animation, film, broadcast, architecture, and more. Millions of people use Parsec to access their games on the go. Share a link and you’re playing with friends and family.

Twikit is an enterprise software company with a sharp focus on mass customization and digital manufacturing. We set new standards on how brands and enterprises conceptualize and manufacture products: customizable, on demand and digitally manufactured. The company has its HQ in Antwerp - Belgium and commercial offices in New York City and Stuttgart. The core differentiator of Twikit is the combined knowledge of software, product engineering for digital manufacturing and digital business chains. We work with our partners across the world to enable advanced product individualization by offering seamless end-to-end solutions from ideation to full integration with our enterprise software solutions. Our unique strength is that we integrate product parametrization and UX with digital manufacturing and mass customization at scale into any (existing) business and digital manufacturing flow.

Voxel8 has developed a unique digital 3D printing technology that can zonally tune the mechanical properties of textiles, add 3D embellishments and aesthetic features.  The technology is broadly applicable in textile applications from footwear uppers, apparel  (bras, gloves, leggings), medical (orthotic braces, wearables), wall coverings, seat covers, branded goods and fashion articles.     Key benefits of the technology are the ability to customize each individual print, tailoring the performance and aesthetic of the textile to the individual or application. Voxel8 uses an additive process (less waste) and have developed a 65 % bio-based material set to further reduce the carbon footprint.  They can impact the functional performance of textiles making them more abrasion resistant, adding support or impact resistance, cushioning elements  or grip features. At the same time they can digitally add 3D embellishments and color. The technology was developed in Professor Jennifer Lewis' Lab at the School of Engineering and Applied Sciences at Harvard  University.

Trackonomy Systems is a provider of package tracking application designed to simplify the process of parcel delivery.

AdHawk Microsystems delivers full-stack eye tracking technology - from custom silicon to cloud-based analytics - to unlock the connection between the eyes, the brain and the world around us. The company has developed wearable eye tracking products with unprecedented speed and data quality by replacing cameras and image processing with a highly customized microsystem that delivers game-changing computational and power efficiencies. The AdHawk solution is powering a new generation of “form-factor-first” smart glasses with all-day biometric sensing in Tier 1 OEM products. The technology is also being deployed in XR products, human-computer-interaction PC peripherals, and clinical instruments. Deep-tech breakthroughs at AdHawk have also positioned the company to develop the first fitness tracker for the brain: a consumer wearable device that will soon offer billions of people rich analytics on their cognitive processes, and actionable insights to improve their brain health and wellness.

Mojo Vision is focused on developing and commercializing high-performance micro-LED display technology for consumer, enterprise, and government applications. The company combines breakthrough technology, leading display and semiconductor expertise, and an advanced 300mm manufacturing process to deliver on the promise of micro-LED displays. Mojo’s proprietary quantum-dot technology brings full-color capability to its display platform and meets the superior performance demands for all form factors. Mojo Vision developed the world’s smallest, densest dynamic display for the first AR smart contact lens and is now applying this innovation and expertise to lead the disruption of the $160 billion display industry. Mojo Vision was founded in 2015 and headquartered in Saratoga, California.

Twine Solutions is a textile technology startup. I was founded by twins, Erez and Alon Moshe and is based in Israel. Twine Solutions represents the unique Israeli synergy between innovation, ingenuity, and entrepreneurship.

Copprint's Nano Copper Ink is a self-sintering alternative for high conductivity, low cost printed electronics. Their Nano Copper Ink is compatible with standard printing technologies, featuring rapid 2 second sintering by standard heating methods, and 50% bulk conductivity, with substantial cost reduction compared to silver ink. Copprint's Nano Ink offers an affordable, conductive ink for a range of applications including: RFIDs printed on paper, touch panel bezel contacts, printed antennas, printed PCBs, heaters & defoggers, fabrics, 3D printing of conductive patterns, batteries and many other printed electronics applications.

Deep Instinct applies artificial intelligence’s deep learning to cybersecurity. Leveraging deep learning’s predictive capabilities, Deep Instinct’s on-device solution protects against zero-day threats and APT attacks with unmatched accuracy. Deep Instinct safeguards the enterprise’s endpoints and/or any mobile devices against any threat, on any infrastructure, whether or not connected to the network or to the Internet. By applying deep learning technology to cybersecurity, enterprises can now gain unmatched protection against unknown and evasive cyber-attacks from any source. Deep Instinct brings a completely new approach to cybersecurity enabling cyber-attacks to be identified and blocked in real-time before any harm can occur. Deep Instinct USA is headquartered in San Francisco, California and Deep Instinct Israel is headquartered in Tel Aviv, Israel.

The Venture Reality Fund drives innovation and investment at the intersection of immersive, spatial, and intelligent computing for consumer and enterprise sectors.

Technology change is happening exponentially around them, and the successful companies of today and tomorrow will need to embrace open innovation and partner closely to shape their future. As HP’s corporate venture arm, HP Tech Ventures is helping to foster an ecosystem of innovation and reinvention that will define tomorrow’s world and experiences, through strategic partnerships and investments in disruptive technology areas. HP Tech Ventures offers more than 75 years of experience in innovation and technology, backed by more than 18,000 global patents, to entrepreneurs around the globe. As part of a Fortune 100 company with world-class technology, one of the world’s largest channel and distribution partner networks, and a vast global manufacturing and supply chain, they are uniquely positioned to help their portfolio companies gain a foothold and scale quickly.

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