Latvian company receives EU funding

Riga-based LightSpace Technologies has received the European Innovation Council (EIC) Accelerator decision to approve a grant funding of EUR 2.253 million which the company will use to develop the “Next Generation Enhanced Augmented Reality 3D Glasses for medical education, pre-procedural planning, intra-procedural visualisation, and patient rehabilitation”. In addition, the EIC Accelerator team has granted LightSpace Technologies with financing options, which also includes an equity investment support component. In a press release LightSpace says that details on the terms of the equity investment support component, as well as the amount, will be announced at later stage following the investor due diligence. The approved grant supports LightSpace Technologies business plan to develop market ready AR glasses for medicine and launch them into production already in year 2021.