Yes, this is what he means. It uses visual/laser information (sometimes combined with the IMU like the phones you talk about) to map and track movement.
They also want to create dynamic meshes on the fly for use in OTS game engines which is quite a challenge.
I'm not sure why everyone in that domain is obsessed with meshes and won't work with a voxel rendering system which seems more flexible for most types of current geometry capture techniques. I get that they want to reuse existing simulators using existing gaming technologies but sometimes its fitting a square car through a round garden hose.
https://en.m.wikipedia.org/wiki/Simultaneous_localization_an...