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Alibaba invests in Swiss augmented reality navigation system maker WayRay

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WayRay’s car navigation systems use a combination of technologies to support a transparent holographic display. Photo: SCMP Handout

Alibaba Group Holding has led an US$18 million funding round in a Swiss developer of augmented reality (AR)-enabled car navigation systems, as the e-commerce conglomerate continues to bet big on the wider adoption of the technology that can seamlessly mix rich digital graphics with the physical world.

The Switzerland-based start-up WayRay said on Tuesday it had closed the US$18 million Series B financing led by Alibaba, after spending US$10 million to create a patented technology for transparent holographic displays.

Apart from the new funding round, WayRay also announced it had entered a partnership deal with China’s Banma Technologies, an Alibaba-backed internet-connected car maker, to develop a new AR car infotainment system.

Photo: SCMP Handout
Photo: SCMP Handout

The new system, which is expected to be a combination of AR navigation, driving assistant notifications, a virtual dashboard and more features, will be built into one of Banma’s 2018 car models, which is hoping to be the world’s first vehicle in production with a holographic AR head-up display.

Rather than distracting drivers with a traditional navigation system, the AR head-up display is expected to improve safety as the navigation information, warnings and traffic data are placed right on the windscreen.

We will continue to pay attention to the development of leading-edge technology like augmented reality and its application to various industries, like WayRay’s AR navigation system in the auto sector
Ethan Xie, senior investment director, Alibaba Group
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