Israeli LiDAR car sensor developer Opsys Tech has announced the final closing of its Series C financing round. The final closing raised $36.5 million, bringing the total amount of Series C funding to $51.5 million, with investments from 83North, Osage University Partners, Translink Capital, and Saban Ventures, among others.
The latest funding will support commercial automotive production quantities of Opsys Tech's LiDAR sensor solutions. Opsys Tech has developed a highly reliable, low-cost, and high-performance solid-state scanning LiDAR sensor with no moving parts, which the company says meets "all specs at all times."
The company was founded in 2016 by CEO Rafi Harel and EVP marketing Guy Gertel.
Opsys executive chairman Eitan Gertel said, "Customer feedback on the best-in-class overall performance of our sensor has been incredible and our customer engagement levels have never been higher. Based on customer feedback, we believe we have developed the only LiDAR sensor available on the market that can meet all customer requirements at all times to enable a complete automotive LiDAR solution. Opsys unique True Solid-State Scanning LiDAR sensor is capable of meeting all automotive reliability requirements and performance specifications necessary to enable advanced ADAS systems at all levels of autonomy while delivering best value to our customers. With the closing of this financing round, we can complete the full production ramp of our True Solid-State Scanning LiDAR product line and we are looking forward to supplying our customers with production quantities of our LiDAR sensors."
Published by Globes, Israel business news - en.globes.co.il - on January 6, 2023.
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