Investment Demonstrates Breadth of Hologram Opportunities

Investment funds continue to flow into the diffractive optics sector. And as the following examples show, it isn’t necessarily into the usual suspects of document security, brand protection or packaging decoration.

Envisics raises $50 million

Envisics — a UK startup that designs holographic in-car technology that projects navigation, safety alerts and other data onto the inside of the windscreen using head-up display (HUD) technology — has announced an additional $50 million in funding.

The funds will be used both to carry out work with current customers on Envisics’ existing holographic technology, with customers including GM, and to continue developing the next generation of the platform, which, Dr Jamieson Christmas, founder and CEO, has said that this will come in a smaller form factor that will make it possible to build into cars of all sizes and with more enhanced video capabilities.

This latest funding is coming from a raft of strategic backers that include Hyundai Mobis, InMotion Ventures (the investment arm of Jaguar Land Rover), and Stellantis (a company formed by the merger of Groupe PSA and Fiat Chrysler Automobiles). Envisics says it is part of a Series C round.

The announcement of the $50 million funding has already driven up the valuation of Envisics to $500 million — double the $250 million valuation it had in 2020, when it raised $50 million in a Series B (see HN October 2020). That funding round also included Hyundai Mobis, alongside General Motors Ventures, SAIC Motors and Van Tuyl Companies — the family office of the Van Tuyl Group, which specializes in automotive dealerships and related services. All of these remain as shareholders according to Envisics.

In a statement, Dr Christmas commented: ‘the calibre of our investors demonstrates the significance attached by global automakers to the transformation of vehicle interfaces and interior architectures.’

In 2010, Jaguar Land Rover was the first auto company to buy into Envisics’ holographic HUD technology and last year Stellantis recognized Envisics with one of its Stellantis Startup Awards in the company’s Automotive Tech category.

And now US car giant General Motors (GM) is planning to deploy the Envisics 2nd Generation AR-HUD technology on the battery-electric Cadillac LYRIQ.

‘Our collaboration with Envisics is moving into production this year, as we add AR-HUD technology to the all-electric 2024 Cadillac LYRIQ,’ said Sandy Lipscomb, Senior Manager, Ultifi Design at General Motors, in a statement. ‘This innovation will further elevate the driving experience in the LYRIQ, adding a second plane of graphics that gives drivers more immersive information integrated within their natural field of vision.’ 

In addition to the deal with GM for the high-end Lyriq, Envisics has also entered into a partnership with Panasonic Automotive Systems, the major automotive supplier that is a division of the consumer electronics giant Panasonic, which suggests future rollouts across a wider range of models and price points.

As for what is appearing on these HUDs, for the moment, Christmas said that it is need-to-know, rather than nice-to-know, information for the driver: safety, vehicle status and navigation alerts are priorities. Although car makers originally thought that drivers would want screens in vehicles that were as big as computers, large displays have started to fall out of favour because they can become too distracting, and often not even necessary, Christmas pointed out. The same goes for HUDs and the real estate that their data would occupy on the windscreen.

Accenture funds hologram tech startup

Far away from the automotive sector, hologram technology provider Forma Vision has secured an investment from professional services company Accenture to assist in its development of metaverse technology, following up on joint development work with Deutsche Telekom’s tech incubator unit – hubraum.

Accenture has made the strategic investment through its investment and engagement programmme – Accenture Ventures – in Forma Vision, a provider of live-streamed, volumetric video technology that enables 3D holographic images of people, objects and environments to be transmitted into the metaverse from any office, home or other location.

Holography News® has previously reported on the metaverse and the opportunities it presents for holographic technologies (see HN November 2022). Now, using Forma Vision’s low-cost, live-streaming volumetric video technology, enterprises can teleport people, places and things into their metaverse experience. For example, Accenture and others have conducted executive town-halls, training, and small group meetings using Forma Vision.

‘We believe Forma Vision’s volumetric video technology will enable more immersive, engaging interactions and help further bridge real and virtual worlds by allowing people, places and things to be more authentically represented in the metaverse,’ said David Treat, Senior Managing Director and global lead of Accenture’s Metaverse Continuum business group.

Accenture formed the Accenture Metaverse Continuum business group in March 2022. The business group combines metaverse-skilled professionals with capabilities in digital commerce, blockchain, digital twins, artificial intelligence and computer vision to help clients design, execute and accelerate their metaverse journeys.

Volumetric videos require depth data in order to reconstruct a person’s hologram. By using a mix of technologies, you can capture a 3D hologram of a person which later is integrated inside an interactive VR (virtual reality) environment. The result offers new holopresence experiences as the viewer can look around the object, changing their viewing position around a full 360 degrees. The video is no longer ‘flat’ as you can approach and even interact with the subject.

Adam Kirk, founder and CEO of Forma Vision, said: ‘volumetric collaboration is the future of hybrid work. Our mission is to bring truly natural communication to enterprise, to allow everyone to contribute meaningfully independent of location. With Accenture as our partner, we will deliver unparalleled collaboration experiences to a wide range of enterprise customers.’ 

For enterprise teams, Forma Vision’s holographic meeting platform can enable remote meeting and other experiences in a highly engaging, 3D virtual format. ‘Volumetric video allows people to show up as their authentic selves in the metaverse. Imagine having your favourite music artist perform in your living room. We believe video holograms can dynamically enhance everything from e-commerce, gaming and other media, sports and entertainment experiences to virtual healthcare, medicine and even product design.’ said Tom Lounibos, Managing Director, Accenture Ventures.

Terms of the investment were not disclosed.