The Augmented Reality Head-Up Displays (AR HUD) market is entering a growth phase fueled by the introduction of new technologies. It is an advanced display technology that is fast becoming a must-have feature for automakers and consumers alike.
Based on global market research, the addressable AR HUD market is predicted to deliver a compound annual growth rate of 28%, growing from 1.6 million units in 2022 to 19.1 million in 2032.
One such company in this industry is UK-based Envisics. The company just announced that it has completed its Series C funding round by welcoming M&G Investments as a new investor in the company and a follow-on investment from Van Tuyl Companies. Earlier this year, Envisics raised over $50 million in the first phase of its Series C round. This takes the total funding raised by the Series C round to over $100 million.
Envisics will use the new investment to accelerate the pace of product development and international expansion.
“Envisics continues to attract extremely high-quality strategic investors to the company,” said Envisics’ CEO and founder, Dr Jamieson Christmas. “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.”
Mitchell Caplan, President of Tarsadia Investments and Chairman of Envisics Inc., commented: “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.”
Develops holographic technologies for AR displays
Founded by Dr. Jamieson Christmas, Envisics develops holographic technologies for augmented reality head-up displays and automotive sensor systems. The company leverages the power of holography and laser-based light sources to provide the highest possible image quality.
Its technology harnesses the power of holography and laser-based light sources to provide the highest possible image quality. Its technology can transform automotive displays and revolutionise the in-car experience.
In partnership with the world’s leading automakers and tier-one suppliers, Envisics is making the future of holographic technology a reality for smarter and safer vehicles.
