The automotive industry is starting to show some signs of recovery after a big contraction during the Covid-19 pandemic. Carmakers planning for the next five years are looking at what new features might help them eek out more sales, and U.K.-based startup Envisics is today announcing $50 million in funding in hopes of being a part of that conversation.
Looking to build in holographic capabilities into a range of vehicles? Look no further than Envisics! The company is already working with several large customer entities, including GM, and is developing the next generation of their platform- which promises more enhanced video capabilities as well as a smaller form factor. This technology could be huge for the automotive industry, making it possible to provide passengers with an augmented reality experience that far exceeds what current mobile devices can offer.
Some people are excited about the possibility of seeing a “Star Wars” type universe in their cars. Augmented reality technology is being used to bring this vision to life, with 3-D volumetric experiences. This technology has the potential to change how we use cars and what we can see when driving them.
One notable fund manager who has backed Envisics is Mike Cannon-Brookes, co-founder of software company Atlassian. Cannon-Brookes told us in an earlier interview that “the industry is massive and growing rapidly,” and that he was excited about the potential for sensors to improve vehicle safety.
This additional capital will allow Envisics to increase its product development efforts, expand its sales and marketing teams, and accelerate the launch of new products. With this infusion of money, Envisics is confident that it can lead the next wave of digital transformation for businesses across industries.
As Envisics moves into new partnerships with auto manufacturers, the company’s technology is becoming increasingly sought-after. Christmas told us in an interview that Envisics’ technology is “working with just about everybody” at the moment, although he declined to give names beyond Jaguar Land Rover, which was the first OEM customer for Envisics’ technology; and GM, which has confirmed that its Lyriq electric Cadillacs will integrate Envisics’ second generation displays. With strong partnerships in place and growth anticipated in the future, it seems clear that Envisics has firmly established itself as a leading player in the burgeoning field of autonomous vehicle technology.
Many scientists and engineers believe that the best way to study the Earth is from space. By using satellites and other high-tech equipment, we can observe everything from climate change to natural disasters. However, some people worry about what we will learn about our planet if we are never allowed to leave it. Is there anything more important than our own planet?
Adding to these challenges, the startup is also facing some difficulty in recruiting the right employees. With competition from established companies and a lack of awareness around the startup’s business model, employees are hesitating to sign up for a job that may not have long-term stability. This has led to a decreased efficiency within the company, which could be solved if more people were persuaded to join.
Already, consumers are willing to pay a premium for augmented reality experiences in their smartphones and other devices. Automotive manufacturers will need to take note and give consumers added incentive to spend more on their vehicles if they want features like these added. While the wider economy is volatile, the potential growth of businesses within this industry means that manufacturers stand to make a lot of money even if sales don’t grow as rapidly as they would like.
Despite these hurdles, there are some promising signs, too. For one, the number of hoverboards that have been reported stolen or crashed has decreased significantly in recent months. Additionally, Amazon has recently announced that they are planning on creating a self-driving skate
Christmas’ statements suggest that the GM deal is progressing as planned. In 2020, Christmas said that Envisics’ first commercial products would come out in 2023, and Christmas confirmed this week that this is still the plan. The first HUDs are “remarkably, absolutely on track to be released this year,” he said. This suggests that Envisics has been working hard to get their products into the market as soon as possible and set a high standard for other HUD companies.
Lyric is focused on delivering a high-end, premium automotive experience. The startup has signed deals with major automotive suppliers, indicating that it plans to roll out its services across a wider range of models and price points.
Though it is not yet finalized, it seems that the initial focus of these HUDs will be safety and vehicle status. Navigation alerts are likely to be a priority as well, though new albums or podcasts dropping on Spotify may not launch until later down the line. Overall, it’s still very early in development so things might change, but this could be something to keep an eye on if you’re interested in having a more interactive experience when using your car.
In the early days of car manufacturing, it was thought that drivers would want screens as big as their computers, phones, and TVs are today. However, large displays have started to fall out of favor because they can become too distracting, and often not even necessary. Christmas points out that HUDs (Head Up Displays) and the real estate that their data would occupy on the windscreen are also starting to fall out of popularity.
In recent years, the number of people accessing the internet from within a vehicle has increased exponentially. As drivers increasingly rely on technologies such as connected cars and hands-free communication, the industry is struggling to find ways to create an interactive, connected experience that meets their needs. Some experts say that there is no one answer to how much real estate is too much when it comes to designing driver experiences. Every car company will have to experiment and find what works best for them given their individual customer bases and driving styles.
The company notes that while AR HUD is still a very small part of the overall OEM market, accounting for just 1.6 million units in 2022, it will grow to 19.1 million by 2032. With this growth, it is evident that companies are beginning to recognize the importance of augmented reality technology in vehicle manufacturing and design.
One company that sees strategic value in Envisics’ technology is strategic backer, which expects to be able to deploy it when it is ready. This support means that early investors can potentially gain an advantage when the technology goes commercial. Meanwhile, Envisics is looking for collaborators to help it improve its product and grow its user base.
As the automotive industry begins to develop and advance, more and more automakers are looking for ways to improve in-car experiences. One of the ways that Hyundai Mobis has decided to improve its offerings is by collaborating with Envisics, a company specialized in developing AR-HUDs (Augmented Reality Head Up Displays). With this partnership, Hyundai Mobis is expected to bring next-generation AR-HUDs to the market with cutting edge holographic technology. These displays will allow drivers to see information such as navigation directions and vehicle statistics without having to take their eyes off the road. This innovation is expected to provide a safer and more convenient driving experience for motorists around the world.