Futurus Technology, a China-based smart vehicle display producer backed by telecommunications and internet group SoftBank, has raised RMB100m ($14.8m) in pre-series B funding, China Money Network reported on Monday.
The round included private equity firm Cathay Capital and investment firm Dohold Capital, Futurus confirmed.
Founded in 2015, Futurus designs and manufactures transparent or miniaturised displays for vehicles, incorporating traditional dashboard features such as a speedometer, fuel meter and odometer.
The company worked with automotive manufacturer BMW in 2018 to design a heads-up augmented reality display that allows a driver to access media, notifications, navigation details, speed limit and traffic updates directly from their windshield.
Futurus plans to use the pre-series B cash for research and development and hiring. Cathay Capital led a series A round of undisclosed size for it in 2017 that included SoftBank subsidiary SB China Capital (SBCVC) and One Capital, according to China Money Network.
SBCVC initially backed a pre-series A round, also of undisclosed size for the company which came after Innoangel Fund and River Capital had provided it with angel funding in 2016.