• Sat. Feb 24th, 2024

Envisics Closes Series C Funding Round with M&G Investments Joining as New Investor in the Company

Byadmin

Oct 15, 2023 #Motoring

Funding Round for Global Leader in Holographic Head-Up Display Technology Totals over $100M

  • M&G Investments joins long-term investors Hyundai Mobis, GM Ventures, Tarsadia Investments and Van Tuyl Companies, and new strategic investors Jaguar Land Rover’s InMotion Ventures and Stellantis Ventures.
  • Envisics, headquartered in the UK, is a deep technology company and global leader in dynamic holographic technology delivering advanced product solutions to the world’s automakers.
  • New investment will accelerate the pace of product development and international expansion.

Milton Keynes, UK, September 6, 2023 – Envisics, pioneer and global leader in dynamic holographic technology, has today announced the completion of 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. In March this year, Envisics announced the first phase had raised over $50 million, with the round being led by Hyundai Mobis – an existing strategic investor, with additional investments from new strategic shareholders InMotion Ventures, the investment arm of Jaguar Land Rover, and Stellantis.

Envisics’ holographic technology enables market leading Augmented Reality Head-Up Displays (AR HUD), an advanced display technology that is fast becoming a must-have feature for auto makers and consumers alike.

“Envisics continues to attract extremely high-quality strategic investors to the company,” says 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.”

Envisics Ltd. is a private company registered and headquartered in the U.K. Envisics Ltd. is owned by Envisics Inc., a Delaware corporation. 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 Investments.

The AR HUD market is entering a growth phase fueled by the introduction of new technologies, such as those being developed by Envisics. Based upon global market research, the addressable AR HUD market is forecast to deliver a compound annual growth rate of 28%, growing from 1.6 million units in 2022 to 19.1 million in 2032.

Headquartered in Milton Keynes, UK, Envisics has built a center of excellence where it is pioneering the deployment of holographic technologies for automotive and mobility applications.

Citi served as financial advisor and Orrick served as legal counsel to Envisics.

By admin