WayRay

WayRay is a Russian-Swiss company producing augmented reality (AR) automotive displays based on the technology of holographic optical elements. Founded in 2012, the startup creates AR solutions in which virtual objects in augmented reality are superimposed on the real world around the car. By September 2018, the company collaborates with approximately 25 major manufacturers of cars and automotive equipment. The state of WayRay has about 250 people. Offices are located in Switzerland, the USA, China, Russia. 

History

2018: Raising $80 million in investments from RDIF, AFK Sistema and Porsche

September 18, 2018 it became known about attracting WayRay investments in the amount of $80 million. The financial transaction, which was led by, Porsche was attended Russian Direct Investment Fund (RDIF) by a consortium of sovereign wealth funds (Saudi Japan Arabia, Kuwait, UAE, Bahrain), including the Russian Japanese Investment Fund (created by RDIF and JBIC), as well as,,, Hyundai Motor Alibaba Group AFK "Sistema" China Merchants Capital and. JVC Kenwood

The resulting investments will WayRay be able to spend on the development and launch of mass production of holographic AR solutions for automakers, as well as the expansion of the development team. In particular, the startup wants to open a branch and a plant with a pilot production line in Germany.

WayRay creates AR solutions in which virtual objects in augmented reality are superimposed on the real world around the car.

Yongcho Chi, Chief Innovation Officer and Executive Vice President of Hyundai Motor Group, believes that working with WayRay will build "a completely new ecosystem designed to use AR technologies to create not only navigation systems, but also AR platforms for smart cities and buildings," this is the new commercial interests of Hyundai Motor Group.

TechCrunch citing a source close to WayRay, writes that the company is estimated at about $500 million by September 2018. The founder and CEO of the company Vitaly Ponomarev in an interview with the publication said that the startup is already profiting from joint projects with automakers.^[1]

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