Porsche invests in TriEye for increased road safety

August 21, 2019 //By Julien Happich
TriEye
Israeli startup TriEye, whose Short-Wave-Infra-Red (SWIR) sensing technology enables vision in adverse weather and night-time conditions, has expanded its Series A round to $19 million with an investment from the German sports car manufacturer Porsche. The additional funding will be used for ongoing product development and operations, as well as team growth.

In May 2019, TriEye announced a Series A funding round, led by Intel Capital. Other investors in the round include Marius Nacht and TriEye’s existing investor Grove Ventures. Since its inception, TriEye has raised $22 million, including a seed investment of $3 million led by Grove Ventures in November 2017.

Porsche Ventures seeks strategic investments in business models relating to customer experience, mobility and digital lifestyle, as well as in future technologies such as artificial intelligence, blockchain and virtual and augmented reality. Through its venture capital activities, the sports car manufacturer Porsche invests in new companies that are in the early and growth phases.

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. TriEye already succeeded in proving that the technology works and can be mass-produced.

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 ADAS and AV to achieve unprecedented vision capabilities under common adverse weather and low-light conditions such as fog, dust or night-time.


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