Envisics, a pioneering UK-based holographics company, has secured a monumental $100 million in Series C funding to fast-track the evolution of their in-car AR HUD technology. This is a significant step towards redefining the way drivers interact with information while on the road.
Investment Details and What It Means for Envisics
The first $50 million tranche of this Series C round was announced back in March, which elevated Envisics to an impressive $500 million valuation. “The company announced the round’s first $50 million tranche in March,” said Dr. Jamieson Christmas, CEO of Envisics. Although the startup hasn’t disclosed its updated valuation, it has welcomed new backers like M&G Investments into its investment fold.
Commercializing In-Car AR HUD Technology
Hyundai Mobis led the preceding $50 million investment, and significant contributions also came from InMotion Ventures, the investment arm of Jaguar Land Rover, and Stellantis. According to Dr. Jamieson Christmas, the company’s AR HUDs are “remarkably, absolutely on track to be released this year.” General Motors has also confirmed that Envisics’ second-generation displays will feature in the electric Cadillac Lyriq.
Collaborations with Other Automakers and Partners
Dr. Christmas mentioned that Envisics is “working with just about everybody,” teasing further collaborations without naming other automakers. Considering the startup’s existing partnerships, it would not be surprising to see firms like Stellantis, Hyundai, and SAIC Motor making similar announcements soon.
Beyond Automobile Giants: Partnerships for Broad Applications
Envisics has expanded its reach through a strategic partnership with Panasonic Automotive Systems. This move suggests that the in-car AR HUD technology could see rollouts across a wider range of vehicles, even beyond the luxury segment.
Safety on the Road: The Role of AR HUDs
AR HUDs not only offer an interactive experience but also significantly enhance road safety. Traditional center console screens require drivers to take their eyes off the road. With AR HUD technology, all essential information is projected onto the windscreen, making it a crucial safety feature.
The Future is Bright and Holographic
Companies like BMW have also revealed concept cars with AR HUD features, indicating a broad industry trend towards the adoption of in-car AR HUD technology. With Envisics’ latest funding and planned commercialization, it seems the future is bright—and holographic.
In Summary
The $100M Series C funding secured by Envisics promises a transformative shift in the in-car experience through AR HUD technology. With safety and interactivity as prime benefits, it’s clear that we’re on the verge of a new era in automotive tech. We’d love to hear your thoughts on this. Do you think AR HUDs are the future of driving? Share your views in the comments below.
Images Courtesty of Envisics Newsroom
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