Switzerland startup WayRay has newly developed the world's first holographic AR (augmented reality) navigation system for cars, allowing drivers to focus on the road and make driving safer while also able to access navigation information.
The firm's holographic AR technology utilizes windshield as a projection display to show navigation information just above the dashboard, and drivers can easily get the information without using any special eyewear or headgear. The technology has prompted automakers including Porsche and Hyundai to invest in the company.
WayRay just completed its round C US$80 million fundraising program, with investors including Alibaba, China Merchants Capital, JVC Kenwood, and Consortium of Sovereign Wealth Funds, in addition to Porsche and Hyundai.
The company intends to use the funds to establish an affiliate with a pilot production line in Germany, diversify its portfolio of applications in different sectors - from AR in transportation to AR smart glass in the smart home business and construction industry - and to expand its R&D team.
WayRay plans to make its holographic AR solutions for cars available on the market within three years.