LazeeEye upgrades your smartphone for use as a 3D camera, using a laser illuminator hardware add-on and stereo vision processing app. The name "LazeeEye" is a portmanteau of "laser" and "eye," indicating that your phone's camera (a single "eye") is being augmented with a second, "laser eye" - thus bestowing depth perception via stereo vision.
What is a 3D camera? It is a device that captures the 3D structure of a scene. Most cameras are 2D, meaning they are a projection of the scene onto the camera's imaging plane; any depth information is lost. In contrast, a 3D camera also captures the depth dimension.
How is LazeeEye different from existing, similar products? In short, it is smaller and it is cheaper. It uses existing components that are already mass-manufactured for the laser illuminator, and - this is the key insight - it utilizes the low-power/light-weight processing and high-resolution camera that already exists in millions of smartphones.