Today Envisics, a startup most known for enabling dynamic holographic technologies for augmented reality displays in cars, has received an investment of ~€42 million. The investors in this round include Hyundai Mobis (the global tier 1 automotive supplier), GM Ventures (the venture capital subsidiary of General Motors), SAIC Capital (the venture investment business of SAIC Motors) and Van Tuyl Companies (a US-based family office investment firm).
Founded in 2017, Envisics is an innovative, market leader that has developed a patent-protected, dynamic holographic platform that enables true holography across multiple mobility applications. With a successful track record of commercialising its technology, Envisics has been qualifying its next generation of holographic technology for series production. This investment allows Envisics to scale its business operations globally as it meets an exponential growth in demand for its AR-HUD technology from leading automotive manufacturers. It further enables the company to accelerate the development of future holographic technologies.
Dr. Jamieson Christmas, Envisics’ founder and CEO, commented: “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.”
“GM is very impressed with Envisics’ holographic augmented reality-enhanced head-up display technology,” said Matt Tsien, president of GM Ventures. “This technology will help us revolutionize 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 EVs, like the Cadillac LYRIQ.”