Investors include Hyundai Mobis, Stellantis, and Jaguar Land Rover.
Envisics, a trailblazer in the holographic technology sphere, announced it has received more than $50 million as part of its latest funding round. The UK-based company is a leader in Augmented Reality Head-Up Displays (AR HUD), a feature that will soon debut in the 2024 Cadillac Lyriq.
Led by Hyundai Mobis – a previous investor in the company – Envisics also received investments from Stellantis and InMotion Ventures, a division of Jaguar Land Rover (JLR). Hyundai's automotive tech subsidiary is at the forefront of cutting-edge technology and has previewed several impressive features recently.
“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,” said the company's Younghoon Han.
While Hyundai hasn't said when the holographic head-up display will reach its cars, Cadillac will introduce the feature later this year.
General Motors will be a segment leader when it releases the Envisics second-generation AR-HUD in the Lyriq, enhancing the already advanced electric vehicle that bit more.
“Our collaboration with Envisics is moving into production this year as we add AR-HUD technology to the all-electric 2024 Cadillac Lyriq,” said GM's Sandy Lipscomb.”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.”
We can assume vehicles under the Stellantis umbrella and from Jaguar Land Rover will also receive holographic head-up displays in the coming months. Interestingly, JLR was the first OEM to implement Envisics' technology as far back as 2010.
“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,” added Dr. Jamieson Christmas, CEO and founder of Envisics.
Envisics' holographic head-up display has the potential to make commuting a lot safer than before. Drivers won't have to take their eyes off the road, with all the necessary information being displayed right in front of them, as shown by the images here.
BMW is also working on its own next-generation head-up display. Previewed by the BMW i Vision Dee concept car, the minimalist design goes in a different direction, with the driver choosing how immersive they want the HUD to be. From simple informational displays to a full-width windscreen display, the automaker says it will reach production cars in 2025.
Following the latest round of funding, Envisics has a post-money evaluation of $500 million. Based on research, the company sees the AR HUD market will see compound annual growth of 28%, growing from 1.6 million units in 2022 to 19.1 million in 2032.
We look forward to seeing what it will look like on the Lyriq later this year.
Keyword: Envisics Receives More Than $50 Million In Funding For Cutting-Edge Holographic Head-Up Displays