Alibaba invests in augmented reality car navigation start-up WayRay
WayRay partners with Alibaba-backed Banma Technologies and SAIC to develop new navigation and infotainment system
Switzerland-based start-up WayRay, which specializes in augmented reality (AR) car navigation, has raised USD18 million in Series B round of fundraising, led by China’s Alibaba Group, reports VentureBeat. With the latest round, the company has raised USD30 million so far. In addition to Alibaba, WayRay’s existing investors include Sistema, a Russian joint stock financial corporation.
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