# WayRay

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/wayray

- Industry: Software
- Headquarters: Zurich, Switzerland
- Website: www.wayray.com
- Total disclosed funding: $80M
- Latest round: Series C (Sep 18, 2018)
- Investors on record: 6

## About

WayRay AG, based in Switzerland, specializes in the development of innovative holographic augmented reality solutions, particularly for the automotive industry.Founded in 2012, WayRay AG operates from Zurich, Switzerland, focusing on advanced holographic displays. The company has successfully raised funding through three deals, including the most recent Series C round of USD 80.00 mn led by Porsche AG on September 18, 2018, bringing the total raised to USD 80.00 mn. The company is co-founded by Alessandro Dini and Vitaly Ponomarev, who also serves as CEO.WayRay primarily focuses on the development and deployment of advanced holographic augmented reality (AR) solutions, with its flagship product being the holographic AR head-up display (HUD) designed for the automotive industry. These displays integrate crucial information such as stoplight alerts, pedestrian warnings, and navigation prompts directly into the driver’s line of sight without the need for eyewear, thereby enhancing safety and user experience. The technology is also adaptable for various vehicle types, including conventional and self-driving cars, catering to both individual consumers and businesses within the automotive sector. Beyond automotive applications, WayRay has designed an Add-on Holographic AR Display for land, air, and water transportation, as well as heavy machinery, enabling operators to maintain situational awareness with minimized distractions. The company's holographic technology extends into infrastructure through smart glass solutions that personalize the AR experience in residential and commercial environments, integrating seamlessly into buildings around the world. Key markets for these products include Europe, North America, and Asia, where the demand for innovative AR solutions is growing.WayRay generates revenue primarily through partnerships and direct sales of its holographic AR display technologies to automotive manufacturers and other sectors, such as transportation and infrastructure. The transaction structure typically involves long-term contracts with automotive OEMs, where customized solutions are tailored to meet specific integration requirements of various vehicle models. For example, a car manufacturer may enter into an agreement to incorporate WayRay's AR HUD technology into an upcoming vehicle line, resulting in a contract that stipulates development milestones, deployment schedules, and payment terms based on the achievement of specific project phases. The company’s innovative offerings, including its proprietary holographic AR displays and smart glass products, are positioned to attract substantial investment and collaboration from major industry players, further solidifying its financial foundation. This strategic approach allows WayRay to establish a stable revenue stream while fostering strong partnerships with leading automotive brands and technology firms.WayRay AG plans to leverage the USD 80.00 mn raised in Series C funding to advance the market introduction of its display technology through OEM agreements with automotive manufacturers. The company is focused on expanding its product lineup and enhancing its existing technologies, with the aim of launching new offerings by the end of 2023. Additionally, WayRay intends to expand its presence in markets across Europe, North America, and Asia, capitalizing on the growing demand for AR solutions in these regions.

## Funding rounds

- Series C, Sep 18, 2018, $80M — Alibaba Group, China Merchants Capital, Russian Direct Investment Fund, JVCKENWOOD Group, Hyundai Motor Company, Porsche AG

## Investors

- Alibaba Group — Series C
- China Merchants Capital (https://capitalatlas.ai/funds/china-merchants-capital) — Series C
- Russian Direct Investment Fund — Series C
- JVCKENWOOD Group — Series C
- Hyundai Motor Company — Series C
- Porsche AG — Series C