Israeli startup TriEye, whose shortwave infrared (SWIR) sensing technology enables vision in adverse weather and night-time conditions, have expanded their Series A funding round to USD $19m with an investment from Porsche. The additional funding will be used for ongoing product development and operations, as well as team growth.
Porsche Executive Boardmember for Research and Development Michael Steiner says his company “see great potential in this sensor technology that paves the way for the next generation of driver assistance systems and autonomous driving functions. SWIR can be a key element: it offers enhanced safety at a competitive price”.
TriEye CEO and cofounder Avi Bakal says his company’s mission is “to save lives and reduce risks of accidents in all weather and lighting conditions. The expansion of our Series A round and the addition of Porsche as a strategic investor further proves that SWIR is a critical component in the necessary sensor fusion solution to enable safer and better ADAS and AV”.
TriEye was founded in 2017 by Avi Bakal (CEO), Omer Kapach (VP R&D) and Prof. Uriel Levy (CTO), after nearly a decade of advanced nanophotonics research by Prof. Levy at the Hebrew University in Jerusalem. The company has succeeded in developing an HD SWIR camera that is a smaller size, higher resolution, and a fraction of the price of current technologies.
