Automotive holographic tech has been given the open road as Envisics announces $50 million in series C funding.
The round was led by Hyundai Mobis – who also backed Envisics in Series B round. InMotion Ventures - the investment arm of Jaguar Land Rover - are also involved in the deal with Stellantis.
Envisics’ holographic technology enables market-leading Augmented Reality Head-Up Displays (AR HUD).
"InMotion Venture’s investment in Envisics is exciting news. It strengthens our partnership as we develop next-generation augmented reality technologies for future Head Up Displays in Jaguar Land Rover's modern luxury cars. Together, we can create a world-leading user interface for our customers”, commented Thomas Müller, Director, Product Engineering at Jaguar Land Rover.
Envisics has an impressive line-up of backers including Tarsadia Investments, GM Ventures, Hyundai Mobis, Stellantis Ventures, SAIC Motors, and Van Tuyl Companies
“Hyundai Mobis is very pleased to continue our strategic partnership with Envisics to jointly develop AR-HUDs and to improve the in-car experience,” said Younghoon Han, Vice President and Head of Electronic Control and Convenience, Hyundai Mobis. “Hyundai Mobis expects to provide next-generation AR-HUDs with cutting-edge holographic technology, and to deliver an intuitive, safe, and convenient HMI to global automakers by strengthening our partnership with Envisics.”
General Motors will be the first company to deploy the Envisics 2nd Generation AR-HUD technology.
“Our collaboration with Envisics is moving into production this year, as we add AR-HUD technology to the all-electric 2024 Cadillac LYRIQ,” said Sandy Lipscomb, Senior Manager, Ultifi Design at General Motors. “This innovation will further elevate the driving experience in the LYRIQ, adding a second plane of graphics that gives drivers more immersive information integrated within their natural field of vision.”
Based upon global market research, the AR HUD market is forecast to deliver a compound annual growth rate of 28%, growing from 1.6 million units in 2022 to 19.1 million in 2032.
“Since our Series B funding round we have focused on growing Envisics into a key enabler for next-generation mobility experiences,” said Envisics’ CEO and founder, Dr. Jamieson Christmas. “The calibre of our investors demonstrates the significance attached by global automakers to the transformation of vehicle interfaces and interior architectures. Our solutions are an exceptional fit for OEM requirements and provide platforms that enable the creation of unique brand experiences. Envisics stands apart as the only company that has created and delivered dynamic holographic technology as a viable product at scale.”
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