Waymo, a Swiss car navigation company, announced on March 14 that it had received $18 million in Series B financing. The leading investor is Alibaba, and other investors include Sequoia Capital, 500 Startups, Intel Capital, Accel Partners, New Enterprise Associates, and Y Combinator. Currently, WayRay has accumulated a total of $30 million in financing.
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According to foreign media March 15 news, Alibaba's investment is its latest move in the AR field. Inquiring about the public information, it was learned that in February 2006, Alibaba led Magic Leap's $974 million Series C financing. In addition, in November last year, Alibaba invested 15 million US dollars in Israel's AR company Infinity AR, and Alibaba became the company's largest shareholder, holding more than 22%.
According to the official website, WayRay was founded in 2102, with headquarters in Switzerland, a research and development center in Russia, a sales and marketing department in the United States, and an office in Shanghai in the future. At present, there are two main products listed on the WayRay website: holographic AR car navigation system Navion and driving habit recorder Element.
In addition to financing matters, WayRay also announced a partnership with Zebra (a startup jointly invested by Ali and SAIC) to develop a new car navigation and infotainment system. The company said that WayRay's AR head-up display Navion will be integrated into a SAIC model in 2018. According to the company, the model will be the world's first mass-produced car with a holographic AR heads-up display.