You won’t have to wait much longer for Navdy
Those of us eagerly anticipating a time when heads-up displays (HUDs) extend beyond the armed forces and gaming spheres to become commonplace IRL (in real life) may not have to wait too long.
The Wall Street Journal (WSJ) is reporting that Navdy, a start-up that sells gadgets for smartphones that can project on to car windscreens, has raised US$ 20 million in series A funding, to begin commercial manufacturing.
According to WSJ, “The start-up, which quickly gained traction last year from investors and early adopters pre-ordering its $299 gadget, has now closed a $20 million funding round. The infusion will be used to hire more engineers and move beyond the first production run and begin commercial manufacturing of the 5 inch-by-4 inch projectors later this year”.
WSJ also added, based on comments from Navdy founder and CEO Doug Simpson, “Mr. Simpson said he wasn’t looking to raise a round just yet. He had closed a $6.5 million seed round in August last year along with $6 million in pre-orders for some 17,000 of the devices. Strong inbound investor interest made him decide to raise $15 million – a sum that quickly increased to a $20 million series A round”.