WayRay AG’s $80M Round C financing

Swiss based Deep-Tech-Startup WayRay, a leader of holographic AR displays for cars, announced a new investment from investors Porsche, Hyundai Motor, Alibaba Group, China Merchants Capital, JVCKENWOOD and Consortium of Sovereign Wealth Funds (among them Russia-Japan Investment Fund, formed by JBIC and RDIF; Saudi Arabia, Kuwait, UAE, Bahrein)

The newly raised funds will bolster the company’s focus on R&D, industrialization and team expansion to become a supplier of holographic AR solutions for car manufacturers.

Headquartered in Zurich, Switzerland, the company develops and produces holographic augmented reality head-up display technologies and works to “seamlessly integrate virtual objects into the driving experience”. A real AR experience in the car, without special glasses or headsets.

Pestalozzi advised JVCKENWOOD as to Swiss law on the deal with a team led by Beat Schwarz (Partner Corporate / M&A, in picture), assisted by Nikolaus Thaddaeus Paumgartner (Associate Corporate / M&A) and Severin Etzensperger (Associate IP/IT).

Involved fees earner: Beat Schwarz – Pestalozzi; Nikolaus Thaddaeus Paumgartner – Pestalozzi; Severin Etzensperger – Pestalozzi;

Law Firms: Pestalozzi;

Clients: JVC Kenwood;