Envisics raises $50M at a $500M valuation for its incar holographic tech

News Summary

  • Be it shut downs of high-profile efforts like Argo AI, or small but promising startups like Broadmann17; or more scrutiny for those still standing like Cruise, it feels like nothing has been spared.
  • The automotive industry is starting to show some signs of recovery after a big contraction during the COVID-19 pandemic, and carmakers planning for the next five years are looking at what new features might help them eek out more sales.
  • Back in 2020, Christmas said that Envisics’ first commercial products would come out in 2023, and Christmas confirmed this week that this is still the plan.
  • “Hyundai Mobis expects to provide next-generation AR-HUDs with cutting-edge holographic technology, and to deliver an intuitive, safe, and convenient HMI to global automakers by strengthening our partnership with Envisics.”
  • We are in an era where we have seen many automotive technology plays stall or run out of gas altogether.
  • (That round also included Hyundai Mobis, alongside General Motors Ventures, SAIC Motors and Van Tuyl Companies — the family office of the Van Tuyl Group, which specializes in automotive dealerships and related services.
The automotive industry is starting to show somesigns of recovery after a big contraction during the Covid19 pandemic, and carmakers planning for the next five years are looking at what new feature [+5648 chars]