The Tel aviv-based developer of the world’s first CMOS-based Short-Wave Infrared (SWIR) sensing solution, TriEye, has raised $74 million in a capital fund round led by M&G Investments and Varana Capital, with the participation of Samsung Ventures, SDF (the investment arm of Tawazun Holdings), Intel Capital, Porsche Ventures, Marius Nacht and Grove Ventures. The round brings TriEye’s total funding to $96 million.
The company was founded in 2017 by Avi Bakal (CEO), Prof. Uriel Levy (CTO), and Omer Kapach (VP R&D), and is headquartered in Tel Aviv, Israel. Its technology enables cost-effective, high-resolution image data and depth perception in all weather and lighting conditions. Short-Wave Infrared (SWIR) cameras are known to can allow for object and hazard detection even under the most challenging visibility conditions.
But the current utilization of Indium-Gallium-Arsenide (InGaAs) material to produce SWIR sensors, is complex, expensive and involved with long lead times. Following a decade of nanophotonics research by TriEye’s CTO, Prof. Uriel Levy, the company succeed to fabricate CMOS sensor, allowing SWIR to enter mainstream use. According to TriEye, its sensor’s prices are thousand times lower than the existing InGaAs-based cameras.
TriEye will use the funds to commercialize SEDAR (Spectrum-Enhanced Detection And Ranging), its imaging and ranging solution for Advanced Driver Assistance Systems (ADAS) and Autonomous Vehicles (AV). SEDAR is capable of producing both HD image and a detailed depth-map. Commercialization is expected in the beginning of 2022. “We believe SEDAR will change the automotive perception market as we know it today,” said Avi Bakal.