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Alibaba Backs Augmented Reality Car Startup

A day after Intel bought autonomous car technology provider Mobileye, Alibaba led an $18 million funding round into WayRay, an augmented reality car navigation startup. WayRay, based in Switzerland, builds heads-up displays for drivers, as well as fully augmented reality and virtual reality immersive systems intended for eventual use in self-driving cars. “At the moment, WayRay is the world’s only developer that integrates augmented reality systems into cars,” Vitaly Ponomarev, company founder and CEO, said in a statement. “It gives us an advantage over traditional HUDs and provides the opportunity to collaborate with the largest global car brands.”

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