Israeli 3D imaging sensor company Vayyar Imaging today announced that it has closed a $45 million Series C financing round co-led by Walden Riverwood and ITI with additional funding from Claltech and follow-on investments from Battery Ventures, Bessemer Ventures, Israel Cleantech Ventures, and Amiti. The company has raised $79 million to date including the latest financing round.
Vayyar, whose technology makes it possible to see through objects, will use the funds to expand into new industries, grow its global team and diversify its sensing product offerings.
Vayyar cofounder, CEO and chairman Raviv Melamed said, "Our 3D imaging sensors transform care for the elderly, autonomous vehicles, medical, agriculture, and retail by bringing innovative and exciting solutions to these markets. It is amazing to see how the ability to look into objects can help humanity in so many ways. We currently work in collaboration with industry-leading companies to create applications that address some of their toughest challenges. The target of this round is to allow us to grow even faster than before.”
The company, which is based in Yehud near Tel Aviv, was founded in December 2011 by Melamed, VP R&D Miri Ratner and CTO Naftali Chayat.
Vayyar's sensors create a 3D image of everything happening around in real-time, without the use of a camera. These sensors can see through solid objects, map large areas and can be used in privacy-sensitive locations where optics cannot. Providing a look beyond human vision, Vayyar’s sensors have expanded across industry sectors, including smart home, automotive, retail, robotics, medical, construction, agriculture and more. Vayyar’s mission is to help people worldwide improve their health, safety, and quality of life. Because of the high demand for Vayyar’s technology by a wide range of industries, the company and its investors predict the need for the company to rapidly scale non-linear growth opportunities.
Lip-Bu Tan, Chairman of Walden International and Managing Director of WRV said, “Vayyar’s technology has disruptive potential across a myriad of different industries. Vayyar is growing fast, and we look forward to helping Vayyar impact the automotive and smart home industries in a similar way.”
Roy Oron, Founder of ITI said, “Vayyar is a cutting-edge player in the three-dimensional imaging technology space. Our investment exemplifies our commitment as an entrepreneurial capital partner for extraordinary Israeli technology companies with exceptional management teams and proven technology. ITI is proud to join the Vayyar team and their shareholders to accelerate its already robust forward momentum.”
Published by Globes [online], Israel business news - www.globes-online.com - on December 13, 2017
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