Envisics, a dynamic holographic technology service provider, has recently announced the completion of its Series C funding round thanks to new investments from M&G Investments, as well as follow-on investment from Van Tuyl Companies.
According to Envisics, the new investment brings the company’s total Series C funding to USD $100 million, which will help Envisics to accelerate the pace of its product development and international expansion.
Earlier this year, Envisics announced that it had raised over USD $50 million, with the round being led by Hyundai Mobis, an existing strategic investor, with additional investments from new strategic shareholders InMotion Venture, the investment arm of Jaguar Land Rover, and Stellantis.
According to Envisics, its holographic technology enables augmented reality head-up displays (AR HUD) in vehicles, an advanced display technology that is fast becoming a must-have feature for auto makers and consumers.
“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., added: “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.”