UK-based holographics powerhouse, Envisics has successfully concluded its Series C round with a $100 million capital injection. The company’s technology projects crucial data – from navigation cues to safety warnings – directly onto vehicle windscreens. Earlier this year in March, the company announced its initial $50 million tranche, which LIFTED Envisics to a $500 million valuation, Although Envisics remained tight-lipped about its updated valuation after this closing.
The preceding $50 million funding was spearheaded by Hyundai Mobis and saw contributions from InMotion Ventures – Jaguar Land Rover’s investment wing – and Stellantis. The successful completion of Series C is well-timed. Envisics is inching closer to the commercial launch of its augmented reality heads-up display (AR HUD). It is expected that the electric Cadillac Lyriq by General Motors will be the first automobile to showcase Envisics’ second-generation displays. JLR (previously known as Jaguar Land Rover) and GM are Envisics’ two prominent early adopters but Stellantis, Hyundai, and SAIC Motor are also expected to sign on. Envisics is also teamed up with Panasonic Automotive Systems, which should lead to broader distribution opportunities for Envisics into the automotive sector.
