Envisics, a UK-based startup that designs holographic in-car technology, has secured “over” $50m in funding from strategic investors such as Hyundai Mobis, InMotion Ventures and Stellantis. The latest funds will be used to expand the firm’s current holographic technology with existing clients, such as General Motors and continue to develop a smaller next-generation platform that will fit into all sizes of cars and price points. Envisics’ holographic technology projects navigation, safety alerts and other data onto the windscreen, known as the head-up display.
According to Dr. Jamieson Christmas, founder and CEO of Envisics, the new platform will provide more enhanced video capabilities, unlocking the technology’s full holographic potential. Christmas said, “We really are on the path to delivering that Star Wars vision of the world, with [in-car] 3-D volumetric experiences”. The latest funding will also increase Envisics’ valuation to $500m, double its $250m valuation in 2020, after raising $50m in a Series B round with General Motors Ventures, SAIC Motors, Van Tuyl Companies and Hyundai Mobis.
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Envisics has been working with most of the major car manufacturers, including Jaguar Land Rover and General Motors, which confirmed that its Lyriq electric Cadillacs will integrate Envisics’ second-generation displays. However, Envisics is still in talks with other investors to raise more funding. Envisics has carved out a solid place for itself among automakers and Christmas claims that “Our next-generation technology unlocks much more of the holographic potential”.
