HardKr learned that AR display technology company ReaVis has completed consecutive rounds of financing from Sequoia Capital China Pre-A round and Xiaomi's strategic investment A round, with a total financing amount of nearly 100 million yuan. The financing funds will be used for new technology research and development, as well as the expansion of laboratory facilities, to accelerate the delivery of mass-produced products.

ReaVis was formed in 2018 and established the company in China in 2021 after returning from Cambridge. Currently headquartered in Nanjing, the overseas R&D center is located in Cambridge, UK, and a factory has been established in Xingtai. Leveraging the team's optical and algorithm capabilities, ReaVis focuses on new AR display solutions, with its main product being the vehicle HUD (Head Up Display) system.

HUD can project virtual images of driving, navigation, and other driving-related information onto the windshield in front of the driver's line of sight, helping drivers obtain crucial information while driving to enhance driving safety. According to a research report from Ping An Securities, the domestic HUD shipment volume is expected to reach 8 million sets by 2025, and the market size may reach 10 billion yuan, representing a growth of approximately 3.5 times compared to 2022.

However, one of the pain points of HUD application in vehicles is ghosting, which refers to image distortion caused by the thickness of the glass. To address this issue, factory-installed HUDs typically require customized processing of the windshield, introducing a wedge-shaped PVB film with a narrow bottom and a wide top to overlap light reflections and eliminate ghosting. However, the wedge-shaped film also increases the cost of HUD and affects the expansion of HUD application scenarios. Previously, there were no mass-produced cases of factory-installed HUDs in commercial vehicles and rail transportation fields.

In response, ReaVis independently developed the Parallel Vector no-ghosting technology, which can achieve ghosting-free windshield HUD without the need for a wedge-shaped film on ordinary windshields, freeing HUD from reliance on high-cost customized wedge-shaped films. In terms of cost, it can reduce the cost of passenger car HUDs by more than 20%. Moreover, this technology also facilitates the entry of HUD into commercial vehicles and rail transportation fields, expanding application scenarios.

In terms of user experience, this technology also provides a foundation for 3D multi-focal plane HUDs with multiple layers of depth. Previously, 3D multi-focal plane HUDs typically required specially designed windshield supports, but ReaVis Parallel Vector ghost-image technology can achieve ghosting-free imaging at multiple projection distances without the need to modify the windshield. This also means solving the problem of dizziness caused by frequent focusing adjustments in AR-HUDs, improving the AR experience.

In addition, ReaVis has polished more details for AR-HUD application in vehicles. This includes self-developed algorithms such as HUD ground feel and multiple signal processing, as well as optimization of optical machine convection systems and heat dissipation structure design to reduce the temperature of the optical machine while reducing the risk of sunlight backflow.

In terms of market expansion, ReaVis has obtained multiple mass production projects and is expected to complete SOP delivery by the end of this year at the earliest. At the same time, ReaVis has conducted research and development cooperation with many well-known domestic and foreign OEMs, covering passenger cars, commercial vehicles, rail transportation, aviation, and other fields.

For the future, ReaVis plans to expand its HUD product line based on its optical technology advantages, develop digital holographic 3D HUD technology, and apply digital holography to smart cabins to provide an immersive driving experience.

In terms of the team, the core founding team of ReaVis all come from the Advanced Optoelectronics Center of the University of Cambridge and well-known companies in the industry, with several senior engineers in the HUD field. CEO Dr. Deng Yuanbo graduated from Zhejiang University with a bachelor's degree and then went to Cambridge to research holography, AR, and 3D display, completing his master's, doctoral, and postdoctoral research stages; CTO Dr. Dong Daoming previously worked at Apple and the international leading holographic display company VividQ; Chief Scientist Professor Chu Daping is the director of the Advanced Optoelectronics Center at the University of Cambridge and a senior expert in the field of optoelectronic displays.

Investor perspectives: Zheng Qingsheng, Partner of Sequoia Capital China, said: Optics and algorithms are the key to implementing AR technology. ReaVis's deep accumulation in underlying optical technology and spatial data fusion algorithms will help it expand and enrich more AR business scenarios.

The strategic investment department of Xiaomi Group stated: ReaVis comes from the Advanced Optoelectronics Center of the University of Cambridge, with exclusive no-ghosting PV technology and deep accumulation in 3D display technology. We are optimistic that the team can provide a new generation of innovative experiences for the automotive display market.