Israeli startup Vayyar Imaging has closed a $22 million Series B financing round led by Walden Riverwood. Battery Ventures, which led the Series A financing round, and other previous investors including Bessemer Venture Partners, Israel Cleantech Ventures (ICV) and Amiti Ventures also participated in the Series B round bringing the total capital raised to date to $34 million.
Vayyar Imaging has developed a 3D-imaging sensor whose technology makes it possible to see through objects. The company will use the new funds to scale its enterprise offering across the globe.
Vayyar's powerful sensor technology may revolutionize cancer detection, robotics, and smart home industries. Its sensors see through skin and tissue to detect breast or other cancer masses, look through walls to detect structural foundations, and can track a person's location and vital signs as they move through a Smart Home.
The company was founded in December 2011 by chairman and CEO Raviv Melamed, VP R&D Miri Ratner and CTO Naftali Chayat.
Vayyar technology is already being used by top Fortune 500 companies and is expanding into multiple industries.
Melamed said, "We look forward to advancing Vayyar Imaging's technologies into a new era where low-cost imaging systems can solve major challenges in a variety of different markets - including breast cancer screening, monitoring aging populations for their safety, saving water through accurate irrigation, and so much more."
Walden International chairman and founder Lip-Bu Tan said, "Vayyar's tremendous growth in the enterprise market validates that there is a very large demand globally for solutions that empower people to improve their health, safety and quality of life using mobile, low-cost, safe 3D imaging sensors."
Designed to see through materials, objects and liquids, Vayyar's exclusive sensors see through known barriers to deliver an unprecedented imaging experience. The sensors scan the object and create a 3D image of its content. Vayyar's 3D image sensing capabilities also enable it to detect motion, speed and track multiple people in large areas. Vayyar's technology is compact, mobile and based on low power radio frequency transmissions.
Published by Globes [online], Israel business news - www.globes-online.com - on December 15, 2015
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