Porsche invests in TriEye for increased road safety: Page 2 of 2

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.

As ADAS systems are expected to operate under a wider range of scenarios, car manufacturers and their suppliers (OEMs and Tier 1s) are realizing 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.

“TriEye is a promising technology company led by an exceptionally strong team with experience in the areas of nanophotonics, deep learning, and the development of semiconductor components,” says Michael Steiner, Member of the Executive Board for Research and Development at Porsche. “We 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.”

“Our 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”, commented Avi Bakal, CEO and Co-founder of TriEye.

TriEye - https://trieye.tech

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