Israeli automotive vision sensors startup BrightWay Vision, a subsidiary of Elbit Systems, announced Tuesday the completion of a $25 million funding round.
Japanese lighting equipment manufacturer Koito and Israeli firm Magenta Venture Partners led the round.
The Haifa-based company develops a solution that enables autonomous vehicles to drive day and night despite poor visibility or difficult weather conditions. It also enables the identification of objects on the road. The company says this tech is the only proven solution of its kind.
The tech is found in a chip smaller than a coin, which is installed in headlights. It is currently installed in some 100 test vehicles around the world, including in Israel. This CMOS sensor and a light source that is installed produces a clear image for a full range of up to 250 meters (820 feet.)
The solution uses computer vision to analyze a specific section of this range and produce an image. It uses AI to operate at night under poor visibility.
The introduction of Koito as a strategic investor will accelerate the commercialization of the technology and its penetration into the market within a short time, the company said in a statement. Koito also controls 30 percent of the global car headlight market.
“We are extremely pleased with the investment of Koito and Magenta and the value they bring. The cooperation and investment of Koito, a leading global manufacturer of automotive equipment, demonstrates the solid relationship and the trust in our solution and paves the way for market penetration within a short time,” said Ofer David, BrightWay Vision CEO and co-founder, “The funding will be used for commercialization of our unique technology and enable us to expand research and development activities.”
“The efforts of our partnership will bring BrightWay Vision’s
autonomous vision solution to our OEM customers. BrightWay Vision’s technology will be integrated with Koito products to offer a complete and reliable all-weather, 24/7 solution for automakers,” said Hideharu Konagaya, Koito’s senior managing director, “We also look forward to partnering with Elbit Systems and the company’s other investors in making Brightway Vision a game-changing solution”
Konagaya will be joining BrightWay Vision’s Board of Directors.
Elbit Systems, the parent company of BrightWay vision, is an international tech firm developing a wide range of defense, homeland security, and commercial programs throughout the world. Its subsidiaries operate in fields like aerospace, control systems, communications, intelligence surveillance, electro-optics and more.