A firm which has invented dynamic holographic tech for in-car head-up displays has received an investment of approximately $50m from a number of blue-chip automotive companies following the successful closing of its series B strategic funding round.
Envisics has developed a patent-protected, dynamic holographic platform that enables holography across multiple mobility applications.
Hyundai Mobis, General Motors Ventures, SAIC Motors and Van Tuyl Companies become shareholders of Envisics following successful completion of the round.
The investment allows Envisics to scale its business operations globally as it meets an exponential growth in demand for its AR head-up display (AR-HUD) tech from leading automotive manufacturers. It further enables the company to accelerate the development of future holographic technologies.
The firm, which spun out of American augmented reality company DAQRI in 2018, offers what it claims to be distraction free driving information within the drivers existing field of view.
Headquartered in Milton Keynes, with a second facility in Detroit, US, its team is made up of world leading scientists and engineers.
Dr. Jamieson Christmas, Envisics’ founder and CEO, commented: “Enhanced in-car experience is the next automotive revolution that goes hand in hand with electrification and the development of autonomous vehicles. Our technology is class leading and is extremely well placed to meet current and future requirements.
“The addition of these blue chip automotive companies to our shareholder base, will be instrumental in guiding Envisics to future success as we focus upon the commercialisation of our true holographic technology.”
“Hyundai Mobis will jointly develop autonomous driving specialized AR HUDs with Envisics, targeting mass production by 2025,” Executive Vice President, CTO, Sung Hwan Cho said. “We will proactively present the next generation AR HUD to global automakers with increased safety and convenience to avoid distracting the driver.”
Michael Cohen, Investment Director at SAIC Capital added: “We are very excited to be part of Envisics journey to commercialize its revolutionary holographic technology and look forward to partnering with them to deploy advanced AR-HUDs in our next generation of cars for both the Chinese domestic and global markets.”
AR