Lightspace Technologies bags EUR 2.2 million contract

LightSpace Technologies, a company associated with HansaMatrix high-tech group, has signed a major contract for the delivery of iG1050 AR (augmented reality) headsets to an “important industrial customer”, the company said in a statement to Nasdaq Riga. 

Under the contract, LightSpace Technologies will deliver EUR 2.2 million worth of products to the undisclosed client in 2022. In case of successful execution of the contract, the parties expect to extend the contract. The agreement includes customization of iG1050 to better fit the chosen application, the company said.

LightSpace Technologies founder Ilmars Osmanis said in the announcement to the stock exchange that the company’s AR headset visualization quality and eye comfort outperform all other AR headsets and glasses available in the global market.

Lightspace Technologies is a global Deep Tech start-up with its own R&D laboratories, industrialization, and production facilities developing key optical technologies for the next generation of augmented reality. The company develops 3D volumetric, multi-focal, and holographic technologies that add a true sense of reality.

Lightspace Technologies closed 2020 with EUR 880,950 in turnover and a profit of EUR 215,514.

HansaMatrix holds a 67.7 percent stake in Lightspace Technologies, while a 17.44 percent stake belongs to BaltCap Latvia Venture Capital Fund. Osmanis owns 8.23 percent, Imprimatur Capital Technology Venture Fund owns 5.03 percent, and Imprimatur Capital Seed Fund 1.61 percent of Lightspace Technologies shares.

Lightspace Technologies was founded in 2014.

Source: labsoflatvia.com