February 7, 2017
Purdue-affiliated startup receives $100,000 in funding to further develop mobile virtual reality 3-D motion-tracking technology
WEST LAFAYETTE, Ind. — A Purdue-affiliated software startup developing a high-definition 3-D motion-tracking technology for fast, accurate and easy-to-use 3-D user interface has received $100,000 in investment funding.
AccuPS LLC, a Purdue Startup Class of 2015 member, has developed the AeroWand™, an add-on 3-D motion-tracking controller that provides a way for mobile virtual reality (VR) users to interact in the VR space.
The technology includes a head-tracking device, hand controller and transmitting antenna that plug into the user’s smartphone to enable the tracking signals.
“A good analogy to what we are doing is providing a mouse to PC owners – without a mouse you can just see and watch, however with a mouse you are able to engage, take action and the overall experience is more exciting, useable and fun. That’s what the AeroWand aims to do,” said Byunghoo Jung, CEO and founder of AccuPS. “The benefit of our technology is that there is minimal set up with no wires or cameras to install. The device has a low-cost, inbuilt microprocessor that can locally compute the elegant and smart algorithms we developed, and it is very simple and easy to use.”
Jung said the startup is pleased with the success of the first round of investment funding.
“We’re very excited to receive these funds because it represents a vote of confidence from investors who are saying they believe in our product and its potential for success,” he said. “We had a lot of great interest in our product and the money we received motivates and inspires us to continue producing an elegant, high-tech product because we know it has the potential to provide a unique, exciting experience to mobile VR users.”
AccuPS recently started a second round of investment funding, after beginning the first phase in spring 2016. The investments will put the group one closer to realization of the product.
“With the money we raise our first priority is to make a commercial grade prototype that meets all the required and best proponent specs,” Jung said. “This will helps us present an actual product to potential customers so they can see how it actually works and line us up for potential partnerships or additional investments in the future.”
AccuPS previously received a NSF STTR grant for $225,000. The company also received a $20,000 Elevate Purdue Foundry Fund Black Award in 2015. Technology used by AccuPS has been licensed through the Purdue Research Foundation Office of Technology Commercialization. The company is located in the Purdue Research Park of West Lafayette.
AccuPS is a tech startup providing high definition 3D interaction solutions. The first product, AeroWand, is a 3D controller for virtual reality (VR) applications. The easy-to-use yet powerful 3D controller will make VR available to everyone at a low cost.
About Purdue Research Foundation
The Purdue Research Foundation is a private, nonprofit foundation created to advance the mission of Purdue University. Established in 1930, the foundation accepts gifts; administers trusts; funds scholarships and grants; acquires property; protects Purdue's intellectual property; and promotes entrepreneurial activities on behalf of Purdue. The foundation manages the Purdue Foundry, Purdue Office of Technology Commercialization, Purdue Research Park and Purdue Technology Centers. The foundation received the 2016 Innovation and Economic Prosperity Universities Award for Innovation from the Association of Public and Land-Grant Universities. For more information about funding and investment opportunities in startups based on a Purdue innovation, contact the Purdue Foundry at email@example.com.
About Purdue Office of Technology Commercialization
The Purdue Office of Technology Commercialization operates one of the most comprehensive technology transfer programs among leading research universities in the U.S. Services provided by this office support the economic development initiatives of Purdue University and benefit the university's academic activities. The office is managed by the Purdue Research Foundation, which received the 2016 Innovation and Economic Prosperity Universities Award for Innovation from the Association of Public and Land-grant Universities. For more information about funding and investment opportunities in startups based on a Purdue innovation, contact the Purdue Foundry at firstname.lastname@example.org. For more information on licensing a Purdue innovation, contact the Office of Technology Commercialization at email@example.com.