PitchIT No. 8 - HMDrive

In this issue, we'll take a look at HMDrive: a startup using augmented reality glasses to improve the experience of driving.

Nov 23, 2023

Hello! I’m Alessio from Ulixes Capital Partners and welcome back to PitchIT: a weekly snapshot describing one of the most interesting early-stage companies in the Italian startup ecosystem in 3 minutes or less. In this issue, we'll take a look at HMDrive: a startup using augmented reality glasses to improve the experience of driving.

In a sentence:

Enhancing drivers’ safety and experience by using AR glasses as a vehicle interface.

Problem:

Accessing information while driving is inefficient and, most importantly, unsafe. Currently, 70% of car accidents are related to visual-recognition errors such as distraction, occlusion, and low visibility. However, drivers often need to access information housed on their vehicle’s display, including navigational and media data. Existing vehicle interfaces are limited and can be a source of distraction, prompting car makers to seek new solutions.

Why now?

The demand for a better driving experience is rising, prompting a need for more efficient driver assistance systems. Big tech companies like Apple, Google, and Samsung are promoting AR glasses for everyday use, even developing solutions to work in vehicles. Additionally, over the past year, major car manufacturers have started experimenting with implementing AR glasses.

Market:

HMDrive’s first use case will be a a visual coaching tool for track cars, but it plans to quickly expand into other markets. HMDrive’s solution is based on AR glasses and can be used within any type of vehicle: sports cars, industrial/agricultural vehicles, and urban cars. Each type of vehicle requires different applications and a different design.

Business model:

HMDrive adopts a B2B direct sales strategy, collaborating with vehicle OEMs. The revenue model includes a license fee for the software and a transactional fee for the provided hardware components. Its competitive advantage lies in its software technology, seamlessly integrating vehicle data with the driver’s movements to deliver precise and steady AR visualizations.

Team:

Marco Centurioni, CEO and Co-Founder: Previously, Marco was a Tech PM at Politecnico di Milano. He holds an MSc in Automation and Control Engineering from Politecnico di Milano and Alta Scuola Politecnica.
Luca Franceschetti, CTO and Co-Founder: Luca holds a Ph.D. in Information Technology from Politecnico di Milano, with a focus on vehicular augmented reality applications.
Sergio Savaresi, Biz Dev and Co-Founder: Currently, Sergio is a Professor at Politecnico di Milano and has co-founded a number of notable startups in the mobility field. He holds a Ph.D. in Control Systems Engineering from Politecnico di Milano.
Matteo Corno, Head of R&D and Co-Founder: Currently, Matteo is an Associate Professor at Politecnico di Milano and has authored hundreds of scientific papers related to automotive and mobility technology. He holds a Ph.D. in Control Engineering from Politecnico di Milano.

Traction/Achievements:

Developed a working prototype tested at TRL 7 in real environments.
Were spun-off from research at Politecnico di Milano and participated in the Motor Valley Accelerator by Plug and Play Tech Center and CDP Venture Capital in 2022.
Garnered explicit interest from leading global vehicle manufacturers.
Created two proof-of-concept live demos in the last six months.
In discussions for the closure of two commercial agreements for 2024.
See HMDrive’s first demo on sports cars at this LINK

Basic info:

Company Name: HMDrive S.r.l.
Founding Date: 05/2022
Headquarters: Modena, Emilia-Romagna, Italy
P.IVA: 04033200363
Employee Count: 4
Past Investors: Plug and Play Tech Center, CDP Venture Capital
Stage: Seed round in progress

Contact info:

For more information about HMDrive, please contact Marco Centurioni, CEO and Co-Founder:

Email: marco.centurioni@hmdrive.it
LinkedIn: www.linkedin.com/in/marco-centurioni/

For general inquiries:

Email: contact@hmdrive.it
Website: www.hmdrive.it

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