Israeli far-Infrared technology (FIR) developer for autonomous vehicles AdaSky today announced it has secured $20 million from lead investor Sungwoo Hitech, a global automotive supplier based in Korea. The investment is part of a larger financing round and will enable the company to expand globally. AdaSky’s solution, Viper, is an all-in-one, complete solution for autonomous vehicles, combining FIR camera technology with fusion-ready, deep-learning computer vision algorithms.
AdaSky CEO Yakov Shaharabani said, “We are thrilled to partner with Sungwoo Hitech for their resource and guidance in the South Korean market and globally. This funding will allow us to rapidly scale to meet the global market pull for our technology."
Sungwoo Hitech chairman and co-CEO Myung-Keun Lee said, “Viper is the smallest, highest-resolution thermal camera for autonomous vehicles on the market. We strongly believe that AdaSky’s technology will enable 24/7 sight and perception for vehicles and put us all on the path to fully autonomous driving. Our investment in AdaSky strengthens our capabilities in supplying key technology for OEMs of autonomous vehicles, which is vital for our long-term growth in the automotive market.”
Based in Yokneam, AdaSky plans to continue to work on R&D projects and trials with OEMs and will expand its product features, including new features and integrations to be introduced at CES 2019.
AdaSky was represented by Advs Miri Shalit, Eyal Ben Shlush and Hadas Simchi from the Meitar Liquornik Geva Leshem Tal & Co. law firm.
Published by Globes, Israel business news - en.globes.co.il - on November 15, 2018
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