VentureBeat, a technology venture capital firm, recently reported that on March 15, Alibaba Group announced that it would lead the startup, WayRay, with an investment of up to $18 million. WayRay's main business is augmented reality based automotive navigation products, headquartered in Switzerland, the main products are HUD head-up displays for drivers and augmented reality and virtual reality systems for autonomous vehicles.
WayRay founder and CEO Vitaly Ponomarev said in an official announcement that "WayRay is the only developer in the world to integrate augmented reality AR systems into the car. This is our core advantage over traditional HUD vendors, which will enable WayRay has the opportunity to work with many major international car brands."
In addition to the announcement of financing matters, WayRay also announced that it will cooperate with Zebra Technologies (a joint venture established by Alibaba and SAIC) to develop a new car navigation in-car entertainment system. It is reported that the first car model equipped with WayRay augmented reality head-up display product Navon will be launched in mass production in 2018. This is also the world's first mass-produced passenger car equipped with holographic augmented reality technology.
Zebra CEO Shi Xuesong said that AR is the future of car navigation because it can significantly improve driving safety. The driver does not have to look down at the instrument while driving, just sweep the data on the windshield. However, when the car is fully automated, AR is finally transformed into VR, which automakers can use as a basis for entertainment.
Currently, WayRay has established a research and development center in Moscow and plans to open its first Asian office in Shanghai in the future. But obviously WayRay's "ambition" is not just operating in the Chinese market. Ponomarev said in an interview with the media, "Way Ray plans to release Navion for consumers in 2017, and hopes to sign contracts with major automakers around the world to make augmented reality technology widely used in vehicles."
In addition to Ali, WayRay's current round of financing amounted to a total of 30 million US dollars. A number of investors, including Sistema, Russia's largest diversified financial investment company, participated in this round of investment. For four years, WayRay has been developing related automotive technology and has previously worked with Samsung. WayRay presented a prototype of a vehicle HUD system based on augmented reality technology at the CES Consumer Electronics Show in early January.
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