UK holographics company Envisics has raised $100m in a Series C funding round as it aims to build an in-car augmented reality (AR) system that appears on driver’s windscreens.
The company says the Augmented Reality Head-Up Displays (AR HUD) will provide drivers with on-screen GPS, safety warnings and other information about the vehicle.
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Envisic’s tech has been gradually gaining more traction as more battery electric luxury cars hit the market.
The British company has gained investment from major motor companies, including Jaguar Land Rovers, General Motors Ventures and Hyundai Mobis.
Envisic’s latest funding round sets the stage for the company to commercalise its AR HUD. According to TechCrunch, General Motors confirmed that the company’s display will be available in its electric Cadillac Lyriq.
“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, in a statement in March.
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By GlobalData“The caliber of our investors demonstrates the significance attached by global automakers to the transformation of vehicle interfaces and interior architectures,” Christmas added.
Envisics’s funding round comes as the augmented reality market continues to grow globally. According to research firm GlobalData, the AR market will generate revenues of $152bn by 2030.
GlobalData also predicts that the AR software market will surpass $100bn by 2030, fuelled by increased adoption of the technology in navigation, education and fitness.
