WayRay CEO and founder Vitaly Ponomarev WayRay

Zurich based WayRay, a developer of holographic AR display tech and hardware has now raised $80 million in a Series C round led by automobile firm Porsche with the likes of Hyundai, Alibaba, China Merchants Capital, electronics manufacturer JVCKenwood and a group of sovereign wealth funds (from Japan, Saudi Arabia, Kuwait, UAE, Russia, Bahrein) participating in the round.

WayRay is gearing this funding towards bolstering Research & Development, team expansion, industrialization and establishment of an affiliate with a pilot production line in Germany next year.

WayRay

This round as per TechCrunch reportedly values the company which creates fundamental innovations for development of new AR technologies at $500 million.

WayRay is focused on creating a true augmented reality experience through an integration of virtual objects into the real world with its products aimed for use in everyday items such as cars, smart windows and standalone hardware.

WayRay

Its holographic AR head-up displays for cars boasts unique features with its projection system volume, field of view, and distance to the virtual image which the company states as surpassing conventional HUDs.

The display can be customized to meet specific integration requirements of various car models with its AR user interface designed for both passengers and drivers conventional vehicles, self-driving cars, consumers and businesses.

WayRay

WayRay’s high potential and vast application mediums concerning its tech comes as what compels leading companies in the fields of automotive, electronics, construction, and other industries to invest in this Series C round.

The company which has now raised $140 million in total now aims to bring its display tech to the market by next year through original equipment manufacturer (OEM) deals with carmakers and further plans to build its tech out on other forms of displays.

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