Moscow—Global law firm Dentons has advised Swiss holographic augmented reality (AR) solution startup, WayRay, on its US$80 million Series C financing round. The round was led by German luxury carmaker, Porsche. In addition, Alibaba, Hyundai, China Merchants Capital, JVCKENWOOD and a consortium of sovereign wealth funds acquired stakes in the company.

WayRay develops and produces holographic augmented reality heads-up display technologies, including the first holographic AR navigation system for cars. The Zurich-based company employs approximately 250 people and plans to open a production facility in Germany in 2019. WayRay also has offices in Russia, China and the US.

A cross-border team led by partner Christopher Rose (London / Moscow), and including counsel Clemens Maschke (Frankfurt) and partner Chris Watkinson (Prague), advised on the venture financing round. Berlin-based partner Stefan Dittmer counseled on intellectual property issues.

“WayRay is leading the way in holographic AR displays for cars and with this round in the rear view mirror, the company is poised for tremendous growth,” commented Christopher Rose, Head of Dentons Europe Venture Technology Group. “We are delighted to have assisted this exciting company on its journey from startup to scaleup.”

With more than 150 venture tech lawyers globally and offices in key technology markets around the world, Dentons’ Venture Technology group regularly advises technology companies in all aspects of their businesses, from capital investments and regulatory challenges to market expansion and exits.