Envisics, a UK-based holographics company, has successfully closed a Series C funding round, raising a total of $100 million. The funding will enable the company to further develop its augmented reality (AR) heads-up display (HUD) technology for cars. Envisics has already gained recognition for its technology, which projects navigation, safety alerts, and other important information onto the inside of a vehicle’s windscreen.
Key Takeaway
Envisics has raised
00 million in a Series C funding round to advance its augmented reality heads-up display (AR HUD) technology for cars. The company’s partnership with General Motors will see its second-generation displays featured in the electric Cadillac Lyriq, with a planned release later this year. The adoption of AR HUDs by automakers aims to enhance driver safety by providing important information without diverting the driver’s attention from the road. Envisics’ collaborations extend beyond automakers, including a partnership with Panasonic Automotive Systems.
New Investors Join Envisics
The Series C funding round attracted several new investors, including M&G Investments, although the updated valuation of Envisics has not been disclosed. Notably, Envisics had previously secured an initial $50 million tranche in March, bringing its valuation to $500 million. This earlier round was led by Hyundai Mobis and saw participation from InMotion Ventures, the investment arm of Jaguar Land Rover, and Stellantis.
Commercializing AR HUD
The closing of the Series C round brings Envisics one step closer to commercializing its AR HUD technology. General Motors has already confirmed that Envisics’ second-generation displays will be featured in the electric Cadillac Lyriq. Although no specific timeline or additional details have been provided, Envisics’ founder and CEO, Dr. Jamieson Christmas, stated that the company’s first HUDs with GM are on track for release later this year.
Envisics is actively collaborating with various automakers, with partnerships already established with Jaguar Land Rover and General Motors. Given the company’s impressive lineup of backers, including Stellantis, Hyundai, and SAIC Motor, it is likely that other automakers will announce plans to adopt similar AR HUD technology in the near future.
The Safety Advantage of AR HUDs
Automakers are increasingly embracing AR HUDs as a safer means of relaying important information to drivers. While traditional LED display screens positioned above a vehicle’s center console can provide navigation data and vehicle information, they also require drivers to take their eyes off the road, posing a potential safety risk. AR HUDs, on the other hand, project information directly onto the windshield, allowing drivers to maintain their focus on the road ahead.
Expanding Partnerships Beyond Automakers
In addition to collaborating with automakers, Envisics has partnered with Panasonic Automotive Systems, a major supplier in the automotive industry. This suggests that Envisics’ AR HUD technology may be integrated into a wider range of vehicles across different price points in the future.
