Envisics raises $50 million for AR HUDs

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Envisics has secured $50 million in series B funding to meet exponential growth in demand for augmented reality HUDs from leading automotive manufacturers

Quick read

➨ Hyundai Mobis, GM Ventures, the venture capital subsidiary of General Motors, and SAIC Capital, the venture investment business of SAIC Motors, participated in the UK-based company’s series B funding round, along with Van Tuyl Companies, a US-based family office investment firm
➨ The digital holographic technology of Envisics uses advanced hologram implementation methods to provide a software-defined broad field of view without the need for additional optical devices
➨ Hyundai Mobis will jointly develop an augmented reality HUD specialised for autonomous driving with Envisics and is aiming for mass production by 2025

The story

Holographic technology company Envisics has raised $50 million in series B funding from several automotive companies and suppliers eager to develop augmented reality heads-up displays (HUDs). 

Automotive supplier Hyundai Mobis, GM Ventures, the venture capital subsidiary of General Motors, and SAIC Capital, the venture investment business of SAIC Motors, participated in the UK-based company’s series B funding round, along with Van Tuyl Companies, a US-based family office investment firm.

Envisics says the next generation of holographic technology is almost ready for series production and the funding will allow the company to scale its business operations globally to meet “exponential growth in demand” for augmented reality HUDs from leading automotive manufacturers.

According to Hyundai Mobis, augmented reality HUDs can be implemented via geometrical optics or digital holography.

The digital holographic technology of Envisics uses advanced hologram implementation methods to provide a software-defined broad field of view without the need for additional optical devices.

This approach, Hyundai Mobis says, significantly reduces volume and so is more optimised for next generation augmented reality HUDs, which it intends to build for electrified and autonomous vehicles.

Hyundai Mobis will jointly develop an augmented reality HUD specialised for autonomous driving with Envisics and is aiming for mass production by 2025.

Sung Hwan Cho, executive vice president and chief technology officer at Hyundai Mobis, said: “We will proactively present the next generation AR HUD solutions to global automakers for increased safety and convenience to avoid distracting drivers.”

Dr Jamieson Christmas, founder and chief executive officer of Envisics, added: “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.”

“Successfully closing this significant series B funding round, especially in light of the challenging business climate, is a pivotal moment for Envisics. 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.”

Matt Tsien, president of GM Ventures, said the technology will “help us revolutionise the in-vehicle experience with a variety of safe, highly integrated and intuitive applications, including applications that will enhance the hands-free driving experience in future electric vehicles”.

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