Israeli light control nanotech and smart glass company Gauzy has announced that it has acquired French company Vision Systems, which develops ADAS (Advanced Driver Assistance System) and shading solutions for the aeronautic, land transport, and marine industries. The acquisition of Vision Systems expands Gauzy's ability to provide light control technologies, shading comfort management systems and ADAS solutions, from development through integration, in a range of industries. No financial details were disclosed about the acquisition.
Gauzy has also announced the completion of a $60 million Series D financing round from investors including IBEX, Olive Tree VC, Blue Red Partners, Waarde Capital, and Avery Dennison (NYSE: AVY) as well as new investors include Walleye Capital, 3A Capital, Klirmark, and Davidson Capital.
Following the acquisition, new products being offered by Gauzy will include camera based image analysis and monitoring systems, and smart mirrors that will include light control elements, applicable and personalized for private, public and industrial vehicles.
Gauzy will integrate its PDLC (polymer dispersed liquid crystal) and SPD (suspended particle devices) technologies into ADAS products and ecosystems. Light control technology can be used in ADAS to reduce visual obstructions such as glare on the road, create safety gates with instant on-demand privacy for public transport operators if there is a perceived threat, and for high contrast switchable transparent displays to communicate safety messages to the surrounding environment.
Gauzy will continue to offer its own light control enabling technologies, including nanoparticle interlayers and hardware, through its growing distribution channel of over 70 certified partners and extensive portfolio of professional customers.
Gauzy, founded by CEO Eyal Peso and CTO Adrian Loffer, said that 2021 revenue was nearly $50 million. Customers include LG Display, BMW, Texas Instruments, Gensler, Clestra Hausermann, HondaJet, Airbus, Silver Arrow Marine, Fritzmeier, Prevost and others as well as strategic alliances with Hyundai and Avery Dennison.
Peso said, "As leaders in material science, Gauzy is committed to innovation that matters. A core motivation for this strategic acquisition is diversification, most notably marked with Gauzy’s expansion into ADAS (advanced driver assistance systems) and APAS (advanced passenger assistance systems) products. Further advancing ADAS and APAS solutions to incorporate LCG technologies from a system based approach addresses a growing demand for safety focused solutions in the transportation industry. We will be not only working towards systems that support drivers, but also passengers, occupants, and general users of our products across industries."
Vision Systems CEO Carl Putman added, "This alliance gives rise to an international group, specialized in solutions that enhance safety and comfort in transportation and architecture. This strategy was made possible thanks to the innovative efforts made by both companies those last few years, and to the visionary management and strategic marketing approach. In addition, outstanding know-how in the field of nanomaterials combined with high-level expertise in integrating electronics and composite into complete systems, will enable the development of a range of customized products being the best-in-class on the market."
Published by Globes, Israel business news - en.globes.co.il - on February 8, 2022.
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