Vayyar Imaging Secures $108M in Series E Funding Led by Koch Disruptive Technologies
PR96306
TEL AVIV, Israel, June 6, 2022 /PRNewswire=KYODO JBN/ --
Global leader in 4D imaging radar expands investor network on the back of new
supply contracts and partnerships.
- Koch Disruptive Technologies (KDT) helms group of existing investors as well
as new backers GLy Capital Management and Atreides Management LP.
- Funding reflects string of recent commercial successes for Vayyar, including
deals with Amazon, Piaggio, HCH Ventures and more.
- Israeli semiconductor company is a leading 4D imaging radar supplier in the
automotive and senior care sectors, producing affordable sensors that provide
detection and tracking in all conditions, while ensuring privacy at all times.
- New funding will allow Vayyar to enhance its Machine and Deep Learning
capabilities, accelerate growth across verticals including public safety,
medical, robotics and retail, and extend its reach to additional geos.
Vayyar Imaging, a global leader in 4D imaging radar, today announced that it
has finalized a USD 108 million Series E financing round led by Koch Disruptive
Technologies (KDT), bringing the company's total funding to over USD 300
million.
The new round includes first-time Vayyar backers GLy Capital Management and
Atreides Management LP, alongside existing investors including KDT, Battery
Ventures, Bessemer Ventures, More VC, Regal Four, and Claltech. To support
investor outreach in China, Vayyar engaged China International Capital
Corporation Limited (CICC) as its lead financial adviser.
Founded with a vision of detecting early-stage breast cancer using RF
technology, Vayyar has since expanded its business into senior care,
automotive, retail, public safety and other industries. The company provides
solutions powered by its leading-edge system-on-chip, proprietary software
stack, and breakthrough Machine Learning algorithms.
In the automotive space, Vayyar manufactures 4D imaging radar-based platforms
that transform safety across the in-cabin, ADAS and motorcycle (ARAS) domains.
The company's ARAS platform is in mass production for deployment on Piaggio
Group's motorbikes, providing exceptional safety for the world's most at-risk
road users. Vayyar has also secured supply contracts with automakers from Japan
and Vietnam and is in advanced engagements with almost every other OEM and
supplier for both in-cabin and ADAS.
In senior care, the company offers Vayyar Care, a unique remote monitoring
solution, integrated with the world's leading nurse call systems, that protects
the aging population with automatic fall detection and data that drives
predictive behavioral analytics. Vayyar recently signed a Joint Venture
agreement with Haier subsidiary HCH Ventures, leveraging its senior care
technology to address the 4 trillion yuan (625B USD) "silver tech" market in
China. Vayyar has also established a large-scale partnership with Amazon for
remote health, safety and security monitoring.
"KDT is excited to help further Vayyar's vision to improve the health and
safety of people's lives at a global scale," said Brett Chugg, senior managing
director of KDT. "Their 4D imaging technology is transforming the medical,
smart home, elderly care, and automotive markets here in the U.S. and around
the world. We look forward to helping accelerate their continued growth."
After opening new offices in five additional territories, including Japan and
China, Vayyar will continue to expand its activities across numerous verticals
and introduce a family of Machine Learning-enabled imaging solutions that are
being integrated with the world's leading smart building, robotics, retail and
public safety solutions.
"We are pleased and proud to progress our partnership with existing investors
including KDT, as well as additional backers which are joining forces with us
for the first time," said Raviv Melamed, co-founder and CEO of Vayyar Imaging.
"During a challenging period for the global economy, this new funding round is
a ringing endorsement of our mission and a clear vote of confidence in the
strength of our technology and the strategic agility of our organization."
With a strong sales pipeline and a world-class patent portfolio, Vayyar will
continue cementing its leadership in core verticals, expanding its activities
in additional industries, and increasing its physical presence across the
Americas, EMEA and East Asia.
About Koch Disruptive Technologies
Koch Disruptive Technologies (KDT) is a unique investment firm, partnering with
principled entrepreneurs who are building transformative companies. KDT
provides a flexible, multi-stage investment approach. KDT works with companies
that can help Koch transform its capabilities, disrupt existing businesses or
expand into new platforms. KDT is a subsidiary of Koch Industries, one of the
largest privately held companies in the world, with estimated revenues
exceeding $125 billion and presence in over 70 countries. KDT helps its
partners unlock their full potential by bringing Koch's full capabilities and
network to them, structuring unique capital solutions and embracing a
long-term, mutual benefit mindset.
About Vayyar Imaging
Vayyar, the global leader in 4D imaging radar, supplies the world's most
advanced radar-on-chip platforms to gather life's essential data, providing
solutions for senior care, automotive, security, smart home, robotics, and
more, while maintaining privacy at all times. Vayyar's mission is to deliver
the next generation of sensing technology that is miniature, affordable, and
versatile enough to impact everyone's lives, enabling a safer world.
Visit vayyar.com to learn more.
Video - https://mma.prnewswire.com/media/1831083/Vayyar_Series_E.mp4
Source: Vayyar Imaging
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