The Venture Codex

Led · Series C · Sep 2023

Envisics develops in-car augmented-reality heads-up displays (AR HUDs) that project navigation, safety alerts and other data onto the inside of a windscreen. The company is nearing commercialization of its second-generation displays and has confirmed a partnership with General Motors for availability in the electric Cadillac Lyriq. Envisics has also partnered with Panasonic Automotive Systems and has investor ties to automakers and suppliers, suggesting broader rollouts across vehicle segments. Founder and CEO Jamieson Christmas said the first HUDs with GM are on track for release this year and that the company is "working with just about everybody." Financially, the startup announced a $100 million Series C close after an earlier $50 million tranche in March. That initial $50 million tranche brought the company to a $500 million valuation; Envisics did not disclose an updated valuation with the final close. Envisics develops holographic head-up displays that project augmented dashboards into vehicles using computer vision, machine learning, big data analytics and navigation. Its HUDs provide mapping, navigation guidance and hazard warnings and integrate into vehicle hardware to enhance driver information. The company is focusing on the higher end of the market and is working with automakers including Jaguar Land Rover. Envisics plans mass production of vehicles using its technology in 2023 and is partnering with suppliers such as Hyundai Mobis on joint development targeting mass production by 2025. Financially, Envisics announced a $50 million Series B at a valuation of over $250 million, significantly up on its previous round. The company was spun out in 2018 by founder Dr. Jamieson Christmas and is based in Milton Keynes, England.

Led · Equity · Mar 2019

Deep Glint develops AI-based computer vision systems for facial, body and behavior recognition and analysis. The company’s technology is described as fast and accurate enough to identify a face among one billion people from 50 meters within one second. Its core products apply deep learning for object recognition and behavior-pattern analysis. Hyundai Mobis has made a strategic equity investment to integrate Deep Glint’s technology into vehicles for authentication, driver monitoring and in-vehicle virtual assistant functions. Planned applications include vehicle security authentication, driver status monitoring, personalized connected services (automated music selection and adaptive lighting), and expansion into V2X. Deep Glint is partnering with Hyundai Mobis to bring its computer vision capabilities into infotainment and safety systems.

Led · Equity · Aug 2018

StradVision develops AI-based vision processing software (SVNet) for Advanced Driver Assistance Systems (ADAS) and autonomous vehicles, with deployments on various vehicle models in partnership with OEMs. The company intends to use its newly raised capital to accelerate growth and expand operations. Led by CEO Junhwan Kim, StradVision reports more than 300 employees across offices in Seoul, San Jose, Detroit, Tokyo, Shanghai, Friedrichshafen, and Dusseldorf. Financially, the company closed an $88M Series C and has $129M in cumulative funding from seed through Series C. Its technology powers ADAS and autonomous vehicle perception worldwide. The company is positioned as an automotive-industry pioneer in AI-based vision processing. StradVision builds deep learning–based vision processing software for advanced driver-assistance systems (ADAS) and autonomous vehicles. The company positions its camera software as an enabler of next-level vehicle autonomy and mainstream ADAS implementations. StradVision says its solution will support millions of SUVs, sedans, and buses on the road soon. Its software is reportedly attracting leading automakers and suppliers. To accelerate expansion and cooperation, StradVision entered a strategic partnership with AISIN Group via a Pegasus Tech Ventures–managed fund. The company intends to leverage that partnership to meet growing demand for driver-assistance technologies and broader deployment of its camera solutions. StradVision is a Seoul-based developer of vision processing software for autonomous vehicles and ADAS, led by CEO Junhwan Kim. Its core product is SVNet, a deep learning-based software suite that enables lane detection, traffic light and sign detection/recognition, object detection, and free-space detection. The company has multiple mass-production projects ongoing in China and Europe with global OEMs and Tier 1 suppliers. StradVision expects millions of vehicles — including SUVs, sedans and buses — to run its software by 2021. It currently employs more than 105 people across the United States, Germany, Korea and Japan. The company intends to use the new funds to continue developing its products. StradVision develops deep learning–based camera image detection software that recognizes pedestrians and reads text on road signs. Its front-detection technology is described as top-notch, able to detect distant and overlapping objects and distinguish between vehicles, pedestrians, and bicycles. The software can analyze movement patterns and pedestrian posture to predict situations in advance and is claimed to use a high-efficiency algorithm optimized for vehicles. The company holds 14 patents, including methods for rapidly reading text in images, fast parallel data processing, and detection-accuracy enhancements; 10 of those patents are registered in the U.S. Founded in 2014, StradVision is an ICT firm whose majority of employees hold master’s or doctoral degrees. The company recently received an equity investment of 8 billion KRW from Hyundai Mobis to collaborate on developing deep learning cameras and pursue commercialization (the article notes commercialization is expected in 4–5 years and Hyundai Mobis aimed to develop a deep learning–based camera by 2020).