American technology company Harman International, part of Samsung Electronics, has acquired Apostera, a developer of mixed reality navigation solutions for the automotive industry. Apostera’s technology, in particular, allows the projection of unique navigation directly on the windshield of the car.
Apostera was part of the portfolio of ICU Ventures, the venture wing of international ICU group. ICU invested in this project in 2018.
"Our investment allowed Apostera to hire a group of talented Ukrainian developers at a critical time and deliver the flagship projects with Audi on time, which have become the cornerstone of today's success of this phenomenal team. We are extremely pleased with another successful exit of a global company with Ukrainian roots," said Roman Nikitov, Head of ICU Ventures.
"HARMAN is dedicated to delivering in-car experiences with the speed and flexibility of consumer technology, together with the reliability and performance of automotive grade solutions. By seamlessly blending AR with the physical environment, Apostera’s mixed reality solution furthers this goal, transforming any display in the car into a richly contextual experience," said Christian Sobottka, President, Automotive Division, HARMAN.
Harman International is a world leader in communications solutions for the automotive industry. The terms of the agreement between Harman and Apostera were not disclosed.
This is the second successful investment exit by ICU Ventures this year. In January 2022, global technology giant Qualcomm acquired Augmented Pixels, a virtual/augmented reality technology company that was also part of the ICU Ventures portfolio.
About ICU Ventures
ICU Ventures is a Kyiv-based venture capital fund that invests in technology companies in emerging markets all over the world. Focused on helping ambitious founders build global businesses, ICU Ventures makes late seed and Series A investments across the tech spectrum.
ICU Ventures is part of the ICU group, an independent asset management firm founded in 2006 by senior investment professionals from ING. With significant allocations to venture capital, private equity, infrastructure & distressed debt, ICU is one of the largest and most diversified asset managers in the CEE region.
18 November 2022
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