SAN JOSE, Calif., July 22, 2020 CY Vision, a pioneer in computational holographic technology, has raised an additional $5 million to launch its novel approach to 3D Augmented Reality in the Vehicular Head-Up Display (HUD) market. This funding was led by Revo Capital and the company's investors include Intel Capital, Koc Holding, and Vestel Ventures.
CY Vision's approach sets apart electric, autonomous, and new conventional vehicles by turning the windshield into an always available, always visible display for important information. The company uniquely delivers 3D holographic displays in full color from bright sunlight to dark stormy conditions with variable virtual distances from in-cabin to infinity.
Revo Capital's Managing Director Cenk Bayrakdar said "Technology when coupled with dynamism of startups' profound ideas shift the standard of living in our lives. CY Vision's technology and the notable team behind it constitute one of the latest cases that demonstrate a glimpse of how the future in cars will look like. We are happy and proud to be together with CY Vision in this journey. We look forward to continue creating lasting value with our two funds, with investments into founders across Turkey and Eastern Europe building global businesses."
The newly raised funds support the launch of the company's production 3D AR HUD systems, which allow navigation cues, hazard and lane warnings, and virtual assistance to be seamlessly displayed across a driver's field of view.
"CY Vision's remarkable approach to holographic displays using standard automotive grade hardware and computational resources is opening new vehicle market segments to the promise of practical and useful augmented reality systems," said CY Vision CEO Orkun Oguz.
Based in Silicon Valley and Istanbul, CY Vision develops software-based holographic display technology that delivers augmented reality experiences that meet the challenges of difficult vehicular environments. Built for standard automotive compute platforms and sensor architectures, the company's systems adapt to different vehicle models and users' ergonomic demands.
ABOUT REVO CAPITAL
Revo Capital (http://www.revo.vc) is one of the leading venture capital firms in Turkey that was founded at the end of 2013. With its $66M first fund and the new fund with €53m second closing, Revo invests in seed to early and growth-stage startups in Turkey, Eastern Europe and Baltics, and has made 19 investments to-date. Some of fund's key investments include, but are not limited to Paycore, provider of end-to-end payment solutions; Capturefast, RPA focused cloud-based document and data capture application; V-Count, e-commerce style visitor analytics platform for the physical world; Getir, 10 min FMCG delivery service; Onedio, digital media leader in Turkey and Russia; Zizoo, leading SaaS-enabled marketplace for boat rentals. Revo had 4 exits, 2 in 2019 (Foriba and Paraşüt) 1 in 2020 (Peoplise). Fund's anchor investors include notable institutions such as the International Finance Corporation (IFC) and European Bank for Reconstruction & Development (EBRD).
ABOUT INTEL CAPITAL
Intel Capital invests in innovative startups targeting 5G connectivity, the data center, artificial intelligence, merged reality, autonomous driving and a wide range of other disruptive technologies. Since 1991, Intel Capital has invested over $12.2 billion in 1,500 companies worldwide, and more than 640 portfolio companies have gone public or been acquired. Intel Capital curates thousands of business development introductions each year between its portfolio companies and the Global 2000.
ABOUT KOC HOLDING
Founded in 1926, Koc Holding has become one of the largest and most successful groups of companies in Turkey and across Europe. Adamant in observing in all its operations the principles and ethical values of administering corporate governance, undertaking social responsibility and providing environmental protection at international standards, the Koc Group is a global player constantly moving toward its objective of duplicating its success in Turkey at the global scale.
ABOUT VESTEL VENTURES
Vestel Ventures was founded in 2014 to support entrepreneurs in the stages of seed to growth level to commercialize new innovative ideas. Vestel Ventures offers strategic partnership to entrepreneurs by providing Vestel's R&D and production facilities for all stages of the product development process, from product, industrial, and multi-screen interface design, to prototyping and testing to certification and production.
SOURCE CY Vision