Milton Keynes, UK-based Envisics, a dynamic holographic technology company, announced on Wednesday, September 6, that it has closed its Series C round of funding at $100M (approximately €93M).
In March this year, Envisics announced the first $50M tranche led by Hyundai Mobis, with additional investments from InMotion Ventures, the investment arm of Jaguar Land Rover, and Stellant.
The latest funding round was led by new investor M&G Investments, with participation from existing investors, including Van Tuyl Companies.
The UK company says it will use the funds to accelerate product development and international expansion.
“Envisics continues to attract extremely high-quality strategic investors to the company,” says Dr Jamieson Christmas, CEO and founder of Envisics.,
“We continue to make great progress on developing and delivering dynamic holography as a viable product at scale to the world’s leading automakers. The vote of confidence from M&G Investments, together with our recently expanded group of investors, speaks to the significant growth potential for our technology as part of the transformation set to disrupt next generation mobility experiences,” adds Christmas.
Following the Series C financing round, the ownership structure includes strategic investors Tarsadia Investments, GM Ventures, Hyundai Mobis, Jaguar Land Rover’s InMotion Ventures, Stellantis Ventures, SAIC Motors, Van Tuyl Companies, and M&G Investment.
Envisics: Dynamic holography pioneer
Founded by Dr Jamieson Christmas, Envisics is a dynamic holography pioneer, developing holographic technologies for augmented reality head-up displays (AR-HUDs) and automotive sensor systems.
The Head-up Display (HUD) projects various information, including dashboard gauges details, key parameters like speed, fuel level, and much more, onto a car’s windshield, allowing drivers to keep heads-up and focus on the roads.
The company’s technology harnesses the power of holography and laser-based light sources to provide the accurate image quality.
On top of that, the dynamic holography platform delivers augmented reality imagery on multiple planes and at different distances, simultaneously.
It adapts instantly to ambient light changes, enhancing the view of the road ahead regardless of light and weather conditions. Envisics-enabled HUD consumes 50 per cent less power deploying light when and where it is required
Mitchell Caplan, President of Tarsadia Investments and Chairman of Envisics Inc., says, “To have such a strong close to our Series C strategic funding round is a testament to the momentum built by Dr. Christmas and the team at Envisics. We were an early investor in Envisics, and we welcome the very impressive roster of returning and new investors in this round.”
Read the orginal article: https://siliconcanals.com/news/startups/envisics-closes-series-c-at-93m/
