Dimenco, a Philips spin-off in Veldhoven, developed Simulated Reality, displays that show 3D images without glasses by combining lenticular lenses with eye-tracking cameras and image processing. Its EIC application said the company licensed the technology to manufacturers such as Acer, which had launched "their first laptop built on SR", and had "a team of 41 inventors, HW&SW engineers, game developers and business managers", according to CORDIS.
The European Innovation Council signed a grant of €2,450,000 towards a €3.51 million project planned from January 2023 to December 2024. On 7 August 2023 the US company Leia Inc. announced it had acquired Dimenco. The final report says: "the project was halted in August 2023 when Dimenco lost its SME status, a condition for participating in the EIC Program." CORDIS records the project as terminated on 21 June 2024.
Company file
- Legal entity
- Dimenco Holding B.V., Veldhoven
- Origin
- Philips spin-off
- Acquirer
- Leia Inc., Menlo Park, California
- Former CEO
- Maarten Tobias, became Leia's chief commercial officer
- Seller named
- KPN Ventures among shareholders
- EIC project
- 1 Jan 2023, halted Aug 2023, terminated 21 Jun 2024
- EIC funding
- Blended finance
Where Dimenco Stands Now
Dimenco is part of Leia, which said the deal would unite Leia's focus on Android phones, tablets and cars with Dimenco's Windows laptops and monitors in "a single, cross-platform solution". Dimenco's web address now leads to the site of Immersity, which markets Leia's spatial AI software and switchable 3D display hardware to device makers. Dimenco's CEO Maarten Tobias became Leia's chief commercial officer, and KPN Ventures announced the sale of its portfolio company, according to KPN Ventures. The price was not disclosed.
"Our customers wanted a unified solution across all devices, and this acquisition delivers exactly that."
David Fattal, CEO, Leia Inc., August 2023The Technology: 3D Without Headsets
Simulated Reality places a lens layer over the display and uses cameras to track the viewer's eyes, so each eye gets its own image. Dimenco pitched it for design and engineering, gaming and video conferencing. The report lists work on reducing crosstalk between the two views, lenses compatible with OLED panels, reference designs for Acer, Onsor and Dell, faster calibration and an improved developer kit.
What the EIC Project Promised, and What CORDIS Shows
The report is internally inconsistent: it says the project halted in August 2023, yet it is labelled as covering 2024 and lists technical work without saying when it was done or who paid for it. Once Dimenco joined a larger group, it no longer met the SME condition the report cites. The report's authors frame the outcome as a "strong foundation", but that foundation now belongs to a US company.
- OLED-compatible 3D lensesDeliveredPer report.
- Reference designsDeliveredAcer, Onsor, Dell.
- Full two-year projectMissedHalted after 8 months.
- European company scale-upMissedSold to US buyer.
The Money
The acquisition terms were not disclosed. How much of the €2.45 million grant was paid before the halt, and whether any was recovered, is not stated on CORDIS. Whether the EIC Fund had committed equity under the blended award is not public.
What Cannot Be Checked
Questions for the EIC
Whether the EIC knew of the sale talks when it signed the grant in April 2023, how much was paid out, whether it was recovered, and who owns the results funded by the grant are not public.
Why Europe Should Care
Dimenco carried display know-how from Philips, one of Europe's electronics pioneers. The EIC signed a grant to help it grow as a European company; within months it was sold to a US competitor. The case raises the question of what the EIC checks about sale plans before it signs a grant.
What the project promised
A two-year push to bring Simulated Reality 3D displays into design, gaming and conferencing markets.
What the record shows
Some display work, an acquisition by Leia, loss of SME status and a halted, terminated project.
The Verdict
Sold, project stopped
Dimenco made progress on its displays, then was sold to a US rival and the EIC project ended. What the public paid for, and what it kept, is not documented.
Dimenco, Leia and the EIC have not been asked for comment for this article. It is based entirely on public records and published statements, linked throughout.
