Detroit’s General Motors Ventures has become a shareholder of a pioneering holographic company following its successful completion of a $50 million Series B funding round.
Hyundai Mobis in South Korea, SAIC Capital in China, and Van Tuyl Cos. in the U.S. also are shareholders in Envisics, which has a location in Rochester Hills and is based in the United Kingdom. The investors will help accelerate commercialization of the company’s holographic technology for augmented reality head-up displays in vehicles.
GM Ventures is the venture capital subsidiary of GM. Hyundai Mobis is a global Tier 1 automotive supplier, SAIC Capital is the venture investment business of SAIC Motors, and Van Tuyl is a U.S.-based family office investment firm.
Envisics’ holographic platform enables holography across mobility platforms. The company has been qualifying its next generation of holographic technology for series production. The investment allows Envisics to scale its business operations globally as it meets growth in demand from automotive manufacturers and accelerates its future holographic technologies.
“Enhanced in-car experience is the next automotive revolution that goes hand in hand with electrification and the development of autonomous vehicles,” says Jamieson Christmas, founder and CEO of Envisics. “Our technology is class leading and is extremely well placed to meet current and future requirements.
“Successfully closing this significant series B funding round, especially in light of the challenging business climate, is a pivotal moment for Envisics. The addition of these blue-chip automotive companies to our shareholder base will be instrumental in guiding Envisics to future success as we focus upon the commercialization of our true holographic technology.”
Envisics has been developing holographic technologies for augmented reality head-up displays and automotive sensor systems since 2010. Its technology uses holography and laser-based light sources to provide the highest-quality image possible.
“GM is very impressed with Envisics’ holographic augmented reality-enhanced head-up display technology,” says Matt Tsien, president of GM Ventures. “This technology will help us revolutionize the in-vehicle experience with a variety of safe, highly integrated and intuitive applications, including applications that will enhance the hands-free driving experience in future EVs, like the Cadillac LYRIQ.”