Envisics, a pioneer and global leader in augmented reality holographic technology has today announced receiving over $50m as part of its Series C strategic funding round. The round was led by Hyundai Mobis – a strategic investor from the Series B round in 2020 – with additional investments from new strategic shareholders InMotion Ventures, the investment arm of Jaguar Land Rover, and Stellantis.
“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 is very pleased to continue our strategic partnership with Envisics to jointly develop AR-HUDs and to improve the in-car experience,” said 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.”
General Motors will be the first company to deploy the Envisics 2nd Generation AR-HUD technology, debuting in the 2024 Cadillac LYRIQ.
The AR HUD market is entering a growth phase fueled by the introduction of new technologies. Based upon global market research, the addressable AR HUD market is forecast to deliver a compound annual growth rate of 28%, growing from 1.6 million units in 2022 to 19.1 million in 2032.
