ETF News

Israel auto safety firm TriEye raises $17 mln in Intel-led round

TEL AVIV, May 28 (Reuters) - Israeli startup TriEye, whose short-wave-infra-red sensing technology is designed to see in adverse weather and at night, said on Tuesday it raised $17 million in an early funding round led by Intel Capital.

Other investors include Marius Nacht, co-founder of Check Point Software Technologies, and TriEye’s existing investor Grove Ventures, headed by TriEye chairman Dov Moran.

TriEye has raised over $20 million, including a seed investment of $3 million led by Grove Ventures in November 2017.

TriEye’s camera, whose initial samples are expected to enter the market in 2020, will help advanced driver assistance systems (ADAS) and autonomous vehicles see in conditions such as fog, dust or night-time, the company said. The low-visibility challenge has been impeding the wide-scale deployment of ADAS and autonomous vehicles.

While TriEye’s primary target is the automotive industry, its technology is applicable to other sectors, including mobile, industrial, security and optical inspection, it said. (Reporting by Tova Cohen)