Over $50m has been raised as part of Envisics’ 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.
Headquartered in Milton Keynes, UK, Envisics has built a center of excellence where it produces augmented reality head-up displays (AR HUD), an advanced display technology for use within automotive and mobility applications.
“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 auto makers 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.”
“As early investors in Envisics, we have seen both an acceleration of their technology and a shift in the market towards AR HUD solutions,” explained Mitchell Caplan, president of Tarsadia Investments and chairman of Envisics. “This latest funding round gives Envisics the runway needed to realize the commercial potential of dynamic holography in the auto industry and beyond.”
Hyundai Mobis, a Tier 1 automotive supplier, aims to transform the in-car experience through the development and fusion of new technologies.
“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 auto makers by strengthening our partnership with Envisics.”
Envisics’ second-generation AR HUD technology will debut in GM’s 2024 Cadillac Lyriq.
“Our collaboration with Envisics is moving into production this year, as we add AR HUD technology to the all-electric 2024 Cadillac Lyriq,” said Sandy Lipscomb, senior manager, Ultifi design at General Motors. “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.”
Back in 2010, Jaguar Land Rover was the first automotive OEM customer to utilize the Envisics technology.
“Partnering with leaders in their fields is at the heart of our reimagine strategy. 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, executive director, product engineering at Jaguar Land Rover.
“Envisics has been a great partner to work with. We share the same determination to create new, innovative products that can make a real difference for our customers,” said Adam Bazih, managing director and head of Stellantis Ventures. “We are proud to see how startup companies like Envisics, which are developing cutting-edge technology, will accelerate Stellantis’ efforts in shaping a more sustainable and exciting mobility experience.”
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