<div>
  <ul>
    <li>
      <p>
        inCitu, an AR application provider, raised USD 2 million in pre-seed funding from Schmidt Futures (USD 1 million) and other investors including at.inc/, CityBldr, Global Futures Group, H/L Ventures, and The WXR Fund, and strategic investors from the real estate and small cities space.
      </p>
    </li>
    <li>
      <p>
        The funds are to be used to accelerate growth and expand operations by democratizing city planning through AR.&nbsp;
      </p>
    </li>
    <li>
      <p>
        inCitu creates a tangible 3D visualization that is geofenced in AR to the location of the development's future construction site using data from both private and public sources. inCitu, whose customers include real estate developers, technology companies, and stakeholders in urban development, allows users to view and investigate how the built environment evolves in real time. Two significant collaborations with Snap Inc. and Esri were signed in 2022, enhancing the company's data and influence through the platforms.
      </p>
    </li>
  </ul>
  <p>
  </p>
</div>


<div>
  <p>
    <a href="https://www.auganix.org/incitu-raises-2m-to-democratize-city-planning-using-augmented-reality/">
      Auganix
    </a>
  </p>
  <p>
    <a href="https://usturkhub.com/2022/11/23/cbmixmh0dhbzoi8vd3d3lmf1z2fuaxgub3jnl2luy2l0ds1yywlzzxmtmm0tdg8tzgvtb2nyyxrpemuty2l0es1wbgfubmluzy11c2luzy1hdwdtzw50zwqtcmvhbgl0es_saqaoc5/">
      Usturkhub
    </a>
  </p>
  <p>
    <a href="https://www.finsmes.com/2022/11/incitu-raises-2m-in-funding.html">
      FinSMEs
    </a>
  </p>
</div>


Extended Reality

inCitu raises USD 2 million in pre-seed funding

PROMINENT_CATEGORY

<div>
 <p>Cognitive3D, a provider of 3D analytics for XR experiences, introduced a new Custom Dashboards feature. The feature allows users to customize, edit, and share dashboards specific to team or project requirements. It integrates standard metrics and custom data queries relevant to their objectives.</p>
 <p>According to Cognitive3D, the new feature will provide more flexibility and specificity in data representation. It enables users to create unique data presentations and share these with others. Further, it has been integrated with external data visualization tools such as Microsoft PowerBI, enhancing the accessibility and actionability of spatial insights for a wider audience.</p>
 <p>Cognitive3D's platform focuses on 3D environment user behaviour analysis, especially in virtual, augmented, and mixed reality. It gathers spatial intelligence data for tracking user interactions, navigation, time spent, and specific actions like headset removal.</p>
</div>

Cognitive3D launches custom dashboards for XR analytics

ANALYST_QUICK_TAKE

<div>
 <p>Mindtech Global, a provider of synthetic data, garnered a funding of GBP 4.4 million (~USD 5.7 million). This investment round was spearheaded by Edge, with significant contributions from Mercia Ventures and the Northern Powerhouse Investment Fund.</p>
 <p>The capital raised is allocated towards advancing Mindtech's technology, expanding its presence in principal markets such as Japan, US, and Europe, and maintaining partnerships with major industry players.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> Mindtech has been focused on improving its synthetic data capabilities. For example, the company added LiDAR (light detection and ranging) and NIR (near-infrared) simulation capabilities to its Chameleon platform in <a href="https:<br>
//sp-edge.com/updates/29705"> May 2024 </a> , allowing AI developers to create Lidar and NIR training and test data.</p>

Mindtech raises GBP 4.4 million in funding to develop AI vision technology

<div>
 <p>The US Navy has initiated a new T-45C Goshawk mixed reality simulator named Project Link, designed for training student pilots. Utilizing a blend of physical and virtual cockpit elements, Project Link offers an immersive training experience.</p>
 <p>The simulation system closely mimics the actual T-45C Goshawk cockpit and utilizes head-mounted display systems for visual projection. The Navy claims that this innovative mixed reality trainer could potentially supplement operational flight trainers and even replace some of the larger, costlier visual projector systems currently in use for pilot training.</p> 
</div> <p><b>Analyst QuickTake:<br>
 </b> The use of XR for pilot training has been well documented, with startups such as <a href="https:<br>
//sp-edge.com/companies/495343"> Vrgineers </a> and <a href="https:<br>
//sp-edge.com/companies/1061172"> Red 6 </a> being key players in the space. The NYU Tandon School of Engineering also announced "HuBar," a visual analytics tool designed to provide <a href="https:<br>
//techxplore.com/news/2024-10-tool-mental-workload-augmented-reality.html"> insight </a> into a pilot's behavior and mental status in AR training environments.</p>

US Navy introduces T-45C Goshawk mixed reality simulator

INCUMBENTS_PRESENT

<div>
 <p>Meta is developing several new projects, including mixed-reality glasses and AI earbuds with cameras. These developments were confirmed by the company's CTO, Andrew Bosworth.</p>
 <p>Meta's mixed-reality glasses, described as having a steampunk aesthetic, are currently in the discovery phase. In addition, the company is also researching AI-powered earbuds equipped with cameras, putting them in competition with rumored similar projects from Apple. However, Meta has halted the development of a high-end Quest headset, which was nicknamed La Jolla and was anticipated to be the next Quest Pro 2.</p>
 <p>The tech company is amplifying its focus on AI-powered devices and wearables to keep a competitive edge in the market. It aims at incorporating AI into various wearable devices worn on different parts of the body and is currently developing various products simultaneously.</p>
 
</div>

Meta confirms mixed-reality glasses project and AI earbuds development

<div>
 <p>The Dubai-based company, Xpanceo, has presented their latest prototypes of smart contact lenses at GITEX Global 2024. Their purpose is to combine different functionalities in one Extended Reality (XR) interface, such as applications, health monitoring, and SuperVision features.</p>
 <p>The company revealed new prototypes like the Smart Contact Lens for 3D Imaging, which permits users to see and interact with 3D content without the need for glasses; and the Smart Contact Lens for Data Reading, demonstrating the capability of wireless data transmission. Xpanceo also improved their previously launched lenses, including the Smart Contact Lens for AR Vision and the Smart Contact Lens with Intraocular Pressure Sensor.</p>
 <p>Xpanceo claims that the new prototypes surpass in aspects like image quality, lower power consumption, and potential in healthcare applications. As per the company, their AR Vision lens consumes much less power, between 100x to 300x, than traditional AR glasses. Also, the effectiveness of the Intraocular Pressure Sensor lens has grown by 50% for early detection of glaucoma signs.</p>
 
</div> <p><b>Analyst QuickTake:<br>
</b> Xpanceo has been focused on improving its smart contact lens capabilities, <a href="https:<br>
//xpanceo.com/blog/awe-asia-2024"> announcing </a> five prototypes at AWE Asia 2024. This included a lens with nano particles for color correction (for color-blind individuals) and a lens for verification (improved security for payments using optical patterns).</p>

Xpanceo introduces smart contact lens prototypes at GITEX Global 2024

<div>
 <p>ARuVR, a VR learning platform, has teamed up with Lenovo for global reselling of its XR enterprise solution. This partnership will see ARuVR's software solution combined with Lenovo's ThinkReality VRX headset to create a ready-to-use XR package for enterprise training and operational processes.</p>
</div>

ARuVR partners with Lenovo to offer XR enterprise solution for businesses worldwide

<div>
 <p>The US Army is planning to upgrade its Microsoft Integrated Visual Augmentation System (IVAS) headset, which is currently in its second engineering validation stage designated as IVAS 1.2. The headset is slated for design improvements and a battalion-level review next year.</p>
 <p>The proposed updates to IVAS 1.2 involve addition of a highly sensitive low-light camera, a superior focus mechanism for low-light situations, more durable parts, enhancements to the hinge, advanced storage options, minor visor and display improvements, and software refinements. The Army is also making efforts to expand the device's applications, with an aim to use IVAS functionalities to command other instruments like soldier-borne sensors.</p>
 <p>The developers have tackled initial challenges including moisture-related problems, usage-induced dizziness, and issues with the display. The limitations of traditional night vision technology have been overcome enabling integration of Augmented Reality (AR) features into the system.</p>
</div> <p><b>Analyst QuickTake:<br>
</b> The news builds on Microsoft's initial <a href="https:<br>
//sp-edge.com/updates/17685"> announcement </a> to launch the IVAS 1.2 in 2025, highlighting technical upgrades to the headset. Additionally, the company may <a href="https:<br>
//sp-edge.com/updates/34805"> potentially </a> scale back its IVAS project following the update, given the discontinuation of its HoloLens 2 mixed-reality headset.</p>

Microsoft to upgrade its IVAS headset geared toward the Army

<div>
 <p>The AI-driven company, Wearable Devices, has formed a partnership with RayNeo, a subsidiary of TCL, to develop neural interface AR glasses. The collaboration aims to incorporate Wearable Devices' neural gesture control technology with the AR glasses RayNeo produces. This integration would allow hands-free, gesture-based interactions in both augmented and mixed reality settings.</p>
</div> <p><b>Analyst QuickTake:<br>
 </b> The news follows Wearable Devices launching its Mudra LINK neural interface wristband in <a href="https:<br>
//sp-edge.com/updates/31620"> July 2024 </a> , which utilizes Surface Nerve Conductance (SNC) sensors to detect electrical signals from nerves and translate them into digital commands. The company is likely to continue pairing its wristband with other AR glass manufacturers to broaden revenue streams.</p>

Wearable Devices partners with RayNeo to develop neural-controlled AR glasses

<div>
 <p>According to a report by Bloomberg, Microsoft has notably lessened the number of individuals working on its Integrated Visual Augmentation System (IVAS), a mixed reality headset created for the US Army. This project was part of a 10-year agreement worth an expected USD 22 billion.</p>
 <p>As mentioned in the report, this decision was made in tandem with Microsoft's discontinuation of the HoloLens 2 headset. It was also noted that the tech giant is no longer injecting funds into large-scale innovative enhancements for IVAS. Currently, the company's focus lies on producing smaller, iterative updates as demanded by the military while having the expenses for these updates covered by the military.</p>
</div>

Microsoft reportedly scales back IVAS project following HoloLens 2 production discontinuation

<div>
 <p>Apple is struggling to attract major software developers to build apps for its Vision Pro mixed reality headset, potentially impacting the device's development and usefulness.</p>
 <p>The introduction of new apps for the Vision Pro has decelerated since its launch, with several prosperous VR software developers choosing not to create for the platform.</p>
 <p>Though Apple hasn't disclosed official sales numbers, analysts believe the Vision Pro isn't achieving good sales. The company allegedly lowered its first-year shipment goals, and initial sales reports indicate a considerable decline in the second quarter.</p>
 
</div> <p><b>Analyst QuickTake:<br>
</b> Despite the rapid <a href="https:<br>
//www.apple.com/newsroom/2024/06/apple-vision-pro-arrives-in-new-countries-and-regions-beginning-june-28/"> influx </a> of new apps for the Vision Pro in the months following its launch, its high price point (USD 3,500) is holding it back from widespread adoption. The news also comes amidst <a href="https:<br>
//techcrunch.com/2024/10/13/apple-might-release-a-2000-vision-headset-next-year/"> rumors </a> of Apple considering launching a cheaper version of its Vision Pro headset in 2025, built using more affordable materials, a less powerful processor, and the absence of its EyeSight feature.</p>

All Updates

inCitu raises USD 2 million in pre-seed funding

Cognitive3D launches custom dashboards for XR analytics

Mindtech raises GBP 4.4 million in funding to develop AI vision technology

US Navy introduces T-45C Goshawk mixed reality simulator

Meta confirms mixed-reality glasses project and AI earbuds development

Xpanceo introduces smart contact lens prototypes at GITEX Global 2024

ARuVR partners with Lenovo to offer XR enterprise solution for businesses worldwide

Microsoft to upgrade its IVAS headset geared toward the Army

Wearable Devices partners with RayNeo to develop neural-controlled AR glasses

Microsoft reportedly scales back IVAS project following HoloLens 2 production discontinuation

Apple struggles to attract app developers for Vision Pro

Extended Reality

inCitu raises USD 2 million in pre-seed funding

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