RDIF takes part in $80 mln invest round of AR car display maker

Prime, 18.09.2018

MOSCOW, Sep 18 (PRIME) -- The Russian Direct Investment Fund (RDIF) and the consortium of sovereign funds it heads have taken part in an investment round held by WayRay, a leading augmented-reality (AR) car display maker, which raised U.S. $80 million in total, the RDIF said on Tuesday in a statement.

Along with the RDIF, the round engaged such companies as Russian multi-industry holding Sistema, as well as Porsche, Hyundai Motor, Alibaba Group, funds China Merchants Capital and JVCKenwood.

“The RDIF’s investments in the creation of high-quality infrastructure and digitization of transport should improve safety on Russian roads and contribute to evolution of cutting-edge technologies in the country,” the fund’s head Kirill Dmitriev said.

WayRay will invest the collected money into developments, launch of mass production, and staff hiring, among others.