Porsche, Hyundai Invest in Augmented Reality Developer

WayRay SA, a Lausanne, Switzerland-based developer of holographic augmented reality head-up display systems, has raised $80 million in its latest funding round.

Porsche led the group of investors, which also included Hyundai, Alibaba, China Merchants Capita and JVC Kenwood. China’s SAIC Motor participated in an earlier investment round.

WayRay has secured more than $100 million in funding since it was launched in 2012. Last year the company won the award for top startup company at the AutoMobility LA conference.

In addition to displaying information like a traditional HUD, WayRay's augmented reality system can appear to overlay objects on the road ahead. Potential applications include a virtual dashboard, real-time navigation directions, directions to available parking spaces, road markings and upcoming traffic signs.

The system uses a much smaller projector than HUDs and can be used in virtually any vehicle, according to the supplier. The technology also enables a wider field of view that can be made visible for both drivers and passengers.

For track cars, the system could be used to show performance data, braking hints and recommended driving lines or even “ghosted” lead vehicles to follow. Future autonomous vehicles also could use the system to display videos.

WayRay launched a demonstration program with Porsche earlier this year and previously has worked with Samsung’s Harman unit. The supplier aims to launch the technology on a production vehicle within three years.