22.8.2019 Stuttgart/Tel Aviv. Strategic investment: Porsche has acquired a minority stake in the Israeli Start-up, TriEye. The young company has developed a sensor technology for short-wave infrared (SWIR).
The increased security in vehicles with assistance systems or Autonomous driving functions through improved visibility in darkness or adverse weather conditions such as dust, fog or rain. The unique semiconductor design company uses a Patent pending technology that SWIR-HD cameras allow to restore in the future, a fraction of your current costs.
“TriEye is a promising technology, led by a strong Team with experience in the areas of Nano-optics, Deep-Learning, and the development of semiconductor components,” says Michael Steiner, a member of the Board of management for research and development of Porsche AG. “We see great potential in sensor technology that enables the next Generation of driver assistance systems and Autonomous driving functions. SWIR can be a key Element: It provides higher security at a competitive price.“
The Start-up was founded in 2017 by Avi Bakal, Omer Kapach and Uriel Levy. The solution of TriEye is based on results from nearly a decade of research: Professor Levy had worked already before the founding of the Hebrew University in Jerusalem on advanced technologies in the field of Nano-optics.
The involvement of Porsche Ventures took place in the framework of the series-A round of financing. Intel Capital led the round; so, the Israeli Venture-Capital Fund to Grove Ventures, the Porsche holds since 2017 and also shares, has increased its existing stake in TriEye.
“Our Mission is to reduce the risk of accidents in all weather and light conditions and to save lives,” said Avi Bakal, CEO and co-founder of TriEye. “We have expanded our funding round, and Porsche as a strategic Investor won. This is further evidence that SWIR is a key component for the sensor technology to develop safer and better systems for driver assistance and Autonomous driving functions.“
The sensor technology of TriEye increases safety in the case of vehicles with assistance systems, improved visibility in bad weather (Panamera 4S: combined fuel consumption 8.3 l/100 km; combined CO2 Emission-191 – 190 g/km ). photo: Porsche AG)
