WayRay develops holographic AR display systems and related hardware and software for embedded automotive head-up displays. Its technology emphasizes holographic lasers and material science (new polymers) and the company claims a leading global patent position and systems much smaller than existing alternatives. WayRay has pivoted from a competitive aftermarket business to focus on OEM embedded systems and plans SDK and app support for drivers and passengers. It is currently at prototype stage with commercial rollout and OEM contracts targeted to begin next year; the company says it has been contacted by all major car manufacturers. R&D and its first prototyping factory are in Moscow, with a base in Zurich and plans to build a production factory in Germany and a second facility or sales presence in Shanghai. Financially, WayRay has seen a valuation boost tied to recent financing and projects further increases upon commercial launch. WayRay develops multicolored holographic augmented reality (AR) head-up displays designed to turn windshields into high-resolution, non-wearable AR infotainment systems for advanced connected cars. Its compact optics claim the largest field of view on the market and enable multicolored virtual object projection, real-time hazard and obstacle indicators, and points-of-interest overlays. The company showcased a joint pilot project with Porsche through the STARTUP AUTOBAHN program and won both the AR/VR category award and the People’s Choice Award for best pitch. WayRay also worked with Honda via the Honda Xcelerator to miniaturize its HUD optics for smaller vehicles, and has partnerships with Harman International and Banma Technologies. The company is based in Lausanne, Switzerland. The most recent Series B from Alibaba and existing investors brings WayRay’s total capital raised to $30M. WayRay develops holographic AR navigational solutions designed for integration into connected cars. The company announced an $18 million funding round led by Alibaba Group and new commercial partnerships to deploy its systems. It has a deal with Chinese internet-car maker Banma Technologies to build AR navigation and infotainment systems, with the AR system expected to be built into one of Banma’s 2018 car models. WayRay says it is the only developer that integrates augmented-reality systems into cars, which it argues gives an advantage over traditional heads-up displays. Later this year the company plans to release the consumer version of its principal product, Navion, and to secure contracts with automakers to install its system in production vehicles.

Total raised

$98M

Funding rounds

3

Latest round

Series C

Latest activity

Sep 2018