Israeli startup TriEye scores $19 million in Series A funding and a strategic investor in Porsche

Israeli startup TriEye scores $19 million in Series A funding and a strategic investor in Porsche

TriEye, whose Short-Wave-Infra-Red (SWIR) sensing technology enables vision in adverse weather and night-time conditions, has expanded its Series A round, led by Intel Capital, to $19 million with an investment from the German car manufacturer Porsche. The additional funding will be used for ongoing product development and operations, as well as team growth.

Founded in 2017 by Avi Bakal (CEO), Omer Kapach (VP R&D), and Uriel Levy (CTO), after nearly a decade of advanced nanophotonics research by Levy at the Hebrew University in Jerusalem, TriEye developed an HD SWIR camera that is a smaller size, higher resolution, and can be mass-produced to increase visibility and safety on the road.

“Our mission is to save lives and reduce risks of accidents in all weather and lighting conditions,” commented Bakal. “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.”

The company’s CMOS-based Raven camera, whose initial samples are due to launch in 2020, is designed to save lives on the roads. Once integrated, the camera will allow advanced driver-assistance systems (ADAS) and audio visual control system (AV) to achieve unprecedented vision capabilities under common adverse weather and low-light conditions such as fog, dust or night-time.

As ADAS systems are expected to operate under a wider range of scenarios, car manufacturers and their suppliers (OEMs and Tier 1s) are realising that SWIR plays a key role in ADAS and AV sensor fusion in order to achieve full visibility under any weather or lighting conditions. Driving tests and research have shown that even when fusing other sensing solutions such as radar, lidar, and standard cameras, the fusion solution fails in solving the low visibility challenge.

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