UK-based holographic display tech company Envisics has announced that it has garnered more than $50 million as part of its Series C strategic funding round at a $500 million post-money valuation. The round was led by Hyundai Mobis with additional investments from new strategic shareholders InMotion Ventures.
The company’s holographic technology will enable AR Head-Up Displays (HUDs) that are rapidly advancing to become a must-have feature for automakers and consumers. As the AR HUD market enters a growth phase that’s fueled by the introduction of new technologies, Envisics is aiming to become the leading company deploying holographic technologies for automotive and mobility applications.
Envisics’ CEO and founder, Dr Jamieson Christmas commented, “Since our Series B funding round, we have focused on growing Envisics into a key enabler for next-generation mobility experiences. The calibre of our investors demonstrates the significance attached by global automakers to the transformation of vehicle interfaces and interior architectures.”
Amongst the company’s automakers, General Motors will be the first company to deploy the Envisics second generation AR-HUD technology that will debut with the Cadillac Lyriq in 2024.
GM, Hyundai and Jaguar Land Rover
“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.”
Hyundai is also another big automotive brand that has partnered with Envisics to, “Jointly develop AR-HUDs and to improve the in-car experience,” According to 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.”
Jaguar Land Rover was the first automaker to realise and acknowledge the company’s potential with holographic technology for HUD applications in 2010 and became Envisics’ first customer of the technology as well.
Jaguar Land Rover’s director of product engineering Thomas Müller said, “Partnering with leaders in their fields is at the heart of our Reimagine strategy. 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.”