March 10, 2023 – Envisics, a provider of dynamic holographic technology that delivers augmented reality (AR) imagery on multiple planes and at different distances, has recently announced that it has received over USD $50 million as part of a Series C strategic funding round.
The round was led by Hyundai Mobis, a strategic investor from Envisics’ Series B round in 2020, with additional investments from new strategic shareholders InMotion Ventures, the investment arm of Jaguar Land Rover, and Stellantis.
Envisics’ holographic technology is used to create augmented reality HeadUp Displays (AR HUD), an advanced display technology that is now considered as a key feature for modern vehicles that can also offer improved situational awareness for drivers, resulting in greater safety on the road.
“Since our Series B funding round, we have focused on growing Envisics into a key enabler for next generation mobility experiences,” said Envisics’ CEO and founder, Dr. Jamieson Christmas. “The caliber of our investors demonstrates the significance attached by global automakers to the transformation of vehicle interfaces and interior architectures. Our solutions are an exceptional fit for OEM requirements and provide platforms that enable the creation of unique brand experiences. Envisics stands apart as the only company that has created and delivered dynamic holographic technology as a viable product at scale.”
Hyundai Mobis, a global automotive Tier-1 supplier, is enabling the transformation of the in-car experience through the development and fusion of new technologies, and will now jointly develop AR-HUDs with Envisics to improve the in-car experience. Commenting on this latest funding announcement, Younghoon Han, Vice President and Head of Electronic Control and Convenience at Hyundai Mobis, said: “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.”
Envisics noted that General Motors will be the first company to deploy the Envisics 2nd Generation ARHUD technology, which will debut in the all-electric 2024 Cadillac LYRIQ. Sandy Lipscomb, Senior Manager, Ultifi Design at General Motors, said: “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.”
In 2010, Jaguar Land Rover was the first OEM automaker customer of Envisics’ AR HUD technology. “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,” commented Thomas Müller, Director, Product Engineering at Jaguar Land Rover.
Envisics Ltd. is a private company registered and headquartered in the U.K. Envisics Ltd. is owned by Envisics Inc., a Delaware corporation. Following this latest Series C financing round, the ownership structure of the company will include strategic investors Tarsadia Investments, GM Ventures, Hyundai Mobis, Stellantis Ventures, SAIC Motors and Van Tuyl Companies.
The latest funding will give Envisics the runway needed to realize the commercial potential of dynamic holography in the auto industry, according to Mitchell Caplan, President of Tarsadia Investments and Chairman of Envisics Inc.
For more information on Envisics and its AR HUD technology for automobiles, please visit the company’s website.
Image credit: Envisics
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Sam is the Founder and Managing Editor of Auganix. With a background in research and report writing, he has been covering XR industry news for the past five years.