Shenzhen-based Raythink Technology, which specializes in augmented reality software for cars, secured tens of millions of yuan in a Series A round from investors including Plum Ventures, Oriental Fortune Capital, and Weed Ventures.
Founded in 2019, the startup has a number of patents related to AR, and its main product is an AR heads-up display (HUD), which is mostly used in passenger cars and in certain rail transit scenarios, as the company signed a strategic cooperation agreement with China Railway Signal and Communication Group.
The AR technology enables Raythink’s products to project information onto the car’s windshield. This includes real-time route guidance, traffic laws, and vehicle data. The AR display minimizes the driver’s distraction from the road compared to dashboard consoles, while integrating navigation prompts and safety reminders into the visual field.
Raythink aims to control the market niche between auto part suppliers and heads-up display companies by developing its car-specific AR display for less than what it would cost original equipment manufacturers, or OEMs, to build in-house, according to CEO Lu Rui.
Raythink’s rail transport solutions can identify objects as far as 2 km away, and increase the efficiency of information exchange and safety warnings on China’s fleet of high speed trains. The product is currently undergoing final inspection processes and expects to be rolled out by the end of this year, said Lu.
KrASIA Connection features translated and adapted content published by 36Kr. This article was originally written by Yang Xiao for 36Kr.